XRP Makes a Strong Comeback, Reincluded in TaiFu 30 Crypto Index

• XRP is back on the TaiFu™ 30 Crypto Index with a weighted share of 2.756%, albeit still overshadowed by Bitcoin’s massive 49.353% and Ethereum’s 19.413%.
• The restoration follows a crucial legal ruling in July, dispelling the SEC’s claim of XRP being a security, a turnaround fostering its re-listing on major exchanges.

As blockchain markets continue to evolve, XRP emerges from the shadows of a lawsuit that once threatened to obliterate its market standing. The recent inclusion in the TaiFu™ 30 Crypto Index marks a significant milestone, portraying a revived market sentiment towards this digital asset.

1/ Today, @Ripple is added back to the TaiFu™ 30 Crypto Index because it is now “reasonably” available and accessible to western traders and the index rebalances at beginning of quarter:

Learn how we add/remove coins to the TaiFu™ 30 Crypto Index here:https://t.co/JbIPkSYUtq pic.twitter.com/Wh7vmy6ptR

— Tai Zen (@HeyTaiZen) October 1, 2023

Navigating Through the Legal Storm

The ripple effect of the SEC (United States Securities and Exchange Commission) lawsuit in December 2020 was nothing short of cataclysmic for XRP. Accused of facilitating unregistered security sales, a cloud of uncertainty hung over Ripple Labs, the firm behind XRP. This led to a domino effect of delistings from prominent exchanges, curtailing liquidity access for traders and stifling XRP’s opportunity to ride the bullish wave then enveloping the crypto market.

However, the legal tides began to turn in July, when Judge Analisa Torres ruled that XRP couldn’t be classified as a security whilst traded on secondary marketplaces. This ruling not only flicked a switch in market perception but also sparked a re-listing spree on eminent platforms such as Coinbase, Binance, Kraken, and a debut listing on Gemini.

The Index Inclusion: A Testament to Resurgence

Fast forward to the present, the inclusion of XRP in the TaiFu™ 30 Crypto Index showcases a significant shift in market sentiment. Though its weighted share of 2.756% pales in comparison to Bitcoin’s 49.353% and Ethereum’s 19.413%, the index inclusion itself is a symbolic gesture of XRP shedding its legal quagmire and gaining market recognition.

As XRP finds its footing on the TaiFu™ 30 Crypto Index, it reflects not merely a reinstatement, but a broader market willingness to reengage with the asset. The narrative surrounding XRP has noticeably shifted, from being an SEC-targeted entity to regaining a semblance of market trust and acceptance. This journey embodies the essence of market dynamics in the blockchain domain, where legal clout and market perception are entwined in determining the fate of digital assets.