|

Will re-listing on crypto exchanges trigger a bullish breakout in XRP price?

  • XRP was re-listed by Canadian exchange Newton Crypto, sparking rumors of relisting on Coinbase. 
  • Despite multiple social media campaigns from the XRP holder community, Coinbase has not relisted the Ripple token. 
  • Analysts predict a 55% rally in XRP if there is a resurgence in buying pressure.

XRP was re-listed by Newton Crypto, a Canadian crypto exchange. The news has sparked rumors of re-listing by Coinbase, one of the largest cryptocurrency exchanges. 

While Coinbase has come out in support of the remittance token in the SEC v. Ripple lawsuit, the exchange has not announced a re-listing. 

Also read: Shiba Inu could beat Dogecoin in a dog-eat-dog world

XRP relisting on exchanges begins with Newton Crypto

Newton Crypto, a leading cryptocurrency exchange, announced the relisting of XRP. This is a key milestone for the altcoin. In December 2020, US financial regulator Securities and Exchange Commission (SEC) hit payment giant Ripple with a lawsuit. The regulator accused remittance provider Ripple of an unregistered securities sale of XRP tokens. The SEC maintains that XRP is a security. 

Following the news of the lawsuit, several cryptocurrency exchanges delisted the XRP token. The altcoin’s holders witnessed mass de-listing from Coinbase, Kraken, Bitstamp, Crypto.com and OKCoin. 

A new round of re-listing from exchanges therefore comes as a relief to XRP holders who persevered through the legal battle between the SEC and Ripple. 

Coinbase has joined US-based blockchain associations in supporting Ripple through amicus curiae brief in the lawsuit. However, the exchange has yet to unveil a plan for re-listing the altcoin. Interestingly, a re-listing could fuel a rally in the altcoin as new listings result in massive price movements in assets on Coinbase. Experts termed this as “The Coinbase Effect.” 

The XRP community of holders on Twitter ran several campaigns in an attempt to get the token relisted on Coinbase, to no avail yet. 

Analysts predict a massive XRP price rally 

Akash Girimath, technical analyst at FXStreet, has evaluated the XRP price trend and predicted a rally in the altcoin. Girimath believes that a resurgence in buying pressure could result in a 55% rally in the remittance token. 

XRP price could hit the $0.609 level and this move could reverse the 69% crash from Q2 2022. 

XRPUSDT price chart

XRPUSDT price chart

A premature move above $0.448 could invalidate the bullish thesis and result in a trend reversal in XRP price. 

Author

Ekta Mourya

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

More from Ekta Mourya
Share:

Editor's Picks

Bitcoin steadies at $82,000: The five forces crushing the Uptober rally

Crypto markets have remained under pressure so far in October, with Bitcoin sliding below $80,000 earlier this week before recovering to around $82,000 on Friday, as macroeconomic headwinds and cooling demand weigh on the market.

Ripple bulls build new support base amid RLUSD payments expansion

Ripple ticks up for the second day in a row on Friday, trading at $1.34. The remittance token holds above medium-term structural support; however, strong supply near $1.40 caps upside. A break above this area would reinforce the bullish grip.

Busy week for Ripple’s RLUSD: What changes for stablecoin holders?

Ripple’s RLUSD is gaining ground across institutional finance, with a major bank launching custody services, a new wallet integration making it easier for developers to build payments and agentic experiences on the network, and a brokerage platform planning to use the stablecoin for settlement.

Bitcoin Weekly Forecast: Macroeconomic headwinds, cooling demand cap BTC gains

Bitcoin extends its correction this week, trading below $82,500 on Friday, as selling pressure continues. Hotter-than-expected US CPI and PPI data point to broader inflation pressures and persistent geopolitical uncertainty, weighing on risk sentiment.

Bitcoin: Macroeconomic headwinds, cooling demand cap BTC gains
Bitcoin (BTC) extends losses this week, trading below $82,500 as of Friday as selling pressure continues. Weakening institutional demand supports this pullback as BTC spot Exchange-Traded Funds (ETFs) are on track to record a two-week withdrawal streak, reaching $146.19 million in net outflows through Thursday.