Top Wallet Service Provider With Almost 40 Million Users Lists XRP

Top crypto wallet Blockchain.com has re-listed XRP after a favorable court ruling that XRP is not a security. Blockchain.com is one of the early crypto exchanges and wallet providers. Remarkably, the platform boasts over 37 million verified users, which will likely boost the value of XRP.   

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As such, this development is quite beneficial for Ripple Labs and XRP. 

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FYI Ripple (#XRP) is now live in your https://t.co/0DZyULavbV Wallet ???? ????

Get it here https://t.co/lqvfcsTWBU pic.twitter.com/xPcXGVmgOj

— Blockchain.com (@blockchain) December 11, 2023

Blockchain.com relisted the token months after the New York Federal court judgment on its status. The exchange had delisted the token after the U.S. SEC accused Ripple Labs of offering XRP as an unregistered security. 

However, in July, a federal court put this accusation to rest, stating that the XRP token is not a security. Consequently, exchanges such as Binance.US and Blockchain.com have reconsidered their earlier stance and relisted the token. 

With such listings, XRP is shaping up to embrace its true potential based on its utility in the financial market. Blockchain.com has over 80 million wallets created by users. Also, it has handled over $1 trillion worth of crypto transactions since its launch. 

Additionally, Blockchain.com supports 31 crypto assets, which include BTC, ETH, XRP, and LTC. With a total of 60 trading pairs, users can enjoy multiple options on the platform.

However, the effect of the relisting is not evident on XRP’s price for now. 

What’s Next For XRP?

XRP’s price remains largely unchanged despite the recent rally in the crypto market. It trades at $0.6 today, December 12, with no notable gains in the past week. 

The controversy surrounding Ripple Labs’ struggles with the SEC might be making investors wary of the token. However, impressive developments in the Ripple Labs ecosystem might force a rally after the Bitcoin 2024 halving. 

Last month, #RippleSwell drew more than 600 global leaders in payments, financial services, blockchain, and policy to Dubai for conversations on the business of crypto. Here are the key takeaways from the event: https://t.co/cBygUTxr1R

— Ripple (@Ripple) December 11, 2023

According to a post by Ripple Labs on X, in November, a blockchain event called RippleSwell attracted over 600 global leaders in the payments, finance, blockchain, and policy niche to Dubai.

One of the main points unveiled at the event is that Ripple Payment has grown to serve small and mid-size enterprises (SMEs). 

Since the launch of Ripple Payments, it has relied on blockchain technology to aid financial institutions with cross-border payments. Remarkably, Ripple Payments processes these payments faster and cheaper. 

Also, Dubai has grown to become a global crypto hub and was one of the first regions to embrace blockchain development. Additionally, the Dubai International Financial Centre (DIFC) is driving blockchain adoption in the region. These discussions include XRP, which was approved for use by licensed firms, boosting its utility. 

So, the Swell event showcased Ripple’s drive to create an Internet of Value. Also, over 80 speakers graced the event, and more than 40 different countries were represented. 

While XRP is not yet in an uptrend, these global developments, adoption, and utility could boost its long-term value.