XRP, one of the leading cryptocurrencies by market capitalization, has started trading on Arkham Exchange, according to a Friday announcement.
The Ripple-affiliated token is now available for both spot and futures trading.
The fact that yet another cryptocurrency trading platform has added support for XRP is not surprising given that it has been on everyone's lips over the past few years.
The token experienced a breathtaking rally in November, vastly outperforming other major altcoins such as Ethereum (ETH) and Solana (SOL).
This is a sharp contrast to the predicament that the XRP token faced in early 2021. Back then, it was delisted from all major exchanges in the US due to regulatory uncertainty in the wake of the SEC's lawsuit against Ripple. The cryptocurrency was also close to leaving the CoinMarketCap top 10.
Alex DovbnyaHowever, Coinbase, Bitstamp, and other exchanges ended up relisting the token last year after a New York District Court ruling stated that secondary XRP sales were not securities.
XRP is now expected to benefit from the SEC's new leadership which is widely expected to dramatically soften the agency's stance on crypto.
As reported by U.Today, pro-crypto libertarian Paul Atkins will replace Gary Gensler as the new SEC head. Gensler, of course, ended up being the main nemesis of XRP holders and the broader industry despite initially being viewed as a savvy candidate.
The token ended up briefly surpassing the $2.8 mark before giving up some gains.
After the blistering rally, the token's price seemingly remains in limbo, currently trading at $2.42. Yet, some traders believe that it has more room to run.
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Arman Shirinyan
Dan Burgin
Vladislav Sopov