Despite all the fuss the XRP seems to be in with the SEC in the USA, the other regions for XRP are looking up, and it is making quite some thrilling effort there. The news has just dropped that XRP’S ETP (exchange fund product) will be listed on the Zurich-based Six Swiss, the third-largest stock exchange, by comparison, representing a ton of different European countries. This is excellent news for all the XRP supporters out there that finally, after its remarkable success in the Asian markets, it has taken towards Europe and will most definitely win the case against SEC and gets reinstated as a digital asset to serve their expansion in the USA.
This exchange’s total market cap is around $1.6 trillion, and it will be traded under the ticker XRPL. Each and every unit will represent about 40 XRP tokens that have a current price of about $68. To smooth things out, the base fee for the XRP ETP is kept at 1.5 percent per annum. A similar product got launched for Litecoin by CoinShares, which is a dedicated European asset manager.
USA is Currently Offering No Such Market to XRP
The very reason why the USA’s asset managers have ditched this digital asset is because of a current and ongoing lawsuit regarding XRP vs SEC. Various exchanges and trading platforms have completely discarded XRP in the USA at the moment, and it can’t be said when it would be back on, possible after its lawsuit finds some settlement with the SEC. Bitwise, a dedicated asset manager and trading firm removed XRP from their platform as soon as the lawsuit against XRP by SEC was aired.
It represents just how volatile the position of XRP is in the USA at the moment and why the cryptocurrency needs to win the case against SEC if it ever wants to be traded and have some market value in the USA which doesn’t seem to be happening at the moment. Other than that, the market expansion in other regions of the world is simply outstanding, but if something similar could jump up for the USA, then XRP would have become unstoppable.