- The XRP community has celebrated the commencement of trading on Atlantis Exchange, an exchange that is registered with the U.S. Treasury Department.
- This could be the first sign that the ongoing SEC v. Ripple lawsuit is approaching a conclusion ahead of a key deadline this week.
Since the courts ruled that XRP is not a security in a landmark victory last year, crypto exchanges have been listing and relisting the digital asset. This week, the XRP community, popularly known as the ‘XRPArmy’, has been celebrating a significant listing. Atlantis Exchange has announced it is listing XRP, enabling holders to buy, swap, and sell the digital asset on the platform. Significantly, the crypto trading platform is registered with the U.S. Treasury Department.
According to the announcement shared on X, trading commenced on the platform on March 17 at 5:00 AM UTC with the trading pair USDB. In its announcement, the platform suggested that the value of the digital asset could be 100x, further urging investors not to miss out.
$XRP to start trading at 5:00 AM, UTC, today.
Get #funds ready now.
A value increase of #100x or more seems possible.
Don’t miss out!
— Atlantis Exchange (@Atlantis_Ex) March 17, 2024
Notably, the supported network for XRP deposits is on the BNB Chain (BEP20), indicating the platform has yet to integrate the XRP Ledger (XRPL). The exchange also revealed that the fee associated with trading the token is 0.2%.
The platform prides itself on being a global trading platform registered with the U.S. Department of the Treasury and the United Nations. Because of this, a part of the community has speculated that this could be a signal that the ongoing Ripple v. SEC lawsuit is approaching a conclusion. A key deadline is expected later this week.
As Crypto News Flash has reported on several occasions before, March 22 is a critical date for XRP and the broader crypto community. On this day, the SEC will give its opening brief for remedies, with Ripple afforded one month to respond on April 22. Two weeks later, on May 6, the SEC will get its last opportunity to reply to Ripple’s opposition, as Attorney James Filan revealed today.
The new listing comes ahead of a possible settlement between the two parties. Additionally, there is speculation of a possible XRP ETF in the coming months. With a Bitcoin spot ETF already approved and a possible Ethereum spot ETF likely to be approved in May, experts speculate that XRP could be next in line.
There is also speculation of Ripple going public before the end of the year. This could offer XRP greater exposure to investors and help drive demand and prices higher.
The general euphoria surrounding Bitcoin and the upcoming halving could also play a role in seeing the digital asset rally. With this in mind, there is speculation that XRP could reach as high as $500. At the time of writing, XRP is trading at $0.6044 after a 2% drop in the last 24 hours.
