Over 1000 US Citizens Purchased Millions Of XRP Despite Delisting

September 15, 2022 10:46 pm

Due to the ongoing lawsuit between Ripple and the SEC, major exchanges within the US had decided to delist XRP as a tradeable asset.

As a result, this has made it difficult for US citizens to continue to become investors of XRP due to limited ways to actually access it.

However, despite the delisting on major exchanges, it has been recorded that over 1000 citizens within the US have still managed to purchase millions worth of XRP.

This can be attributed to leading decentralized exchanges such as OnXRP which has allowed for the adoption of Ripple within the US even during the Ripple lawsuit.

TheCryptoBasic reports:

A leading decentralized exchange, OnXRP, has announced a massive adoption of Ripple (XRP) among United States residents. According to an announcement today by the exchange, a total of 1,329 U.S. citizens have leveraged OnXRP’s fiat on-ramp solution to purchase XRP using their credit card and Apple Pay.

OnXRP stated that 2 million XRP coins were bought through the on-ramp solution that was launched in collaboration with Banxa.

“We just passed 2m bought XRP through our on-ramp solution with Banxa. This totals 1,329 US Citizens that were able to buy with credit card or ApplePay,” OnXRP stated.

The DEX noted that it achieved the feat even though major cryptocurrency exchanges in the U.S., including Coinbase, have delisted the trading of XRP from their platforms.

Recall that the ongoing lawsuit between the Securities and Exchange Commission and Ripple, prominent United States-based cryptocurrency exchanges were prompted to de-list XRP from their trading platforms.

It seems that the rise of decentralized exchanges like OnXRP is one of the few successful options that would allow for the purchasing of XRP.

Over time, investors expect decentralized exchanges (DEX) to become more popular due to the regulatory risks that many centralized exchanges like Coinbase have to deal with.

So far, OnXRP’s service is available in most US states with the exception of New York and Hawaii.

If more and more de-listings should happen around the world due to regulatory pressure, investors no longer have to rely on them to gain access to the digital assets of their choice.

TheCryptoBasic concludes:

In response to this unfortunate development, OnXRP announced the launch of its fiat on-ramp solution, where U.S. residents can purchase XRP.

The service was available in all U.S. states except New York and Hawaii.

“We present to you our fiat onramp powered by @BanxaOfficial that can be found under “cash” on our dex or directly at: https://dex.onxrp.com/onRamp. Global and U.S. citizens (apart from NY and Hawaii) can buy XRP easily now using Credit card and Apple Pay,” the DEX noted in an announcement.

Commenting on the development at the time, Banxa said everyone, including U.S.-based residents, should have the opportunity to buy XRP.

Meanwhile, the SEC vs. Ripple lawsuit has entered the summary judgment stage, with the parties expected to file motions for summary judgment today.

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