XRP Starts Trading on Arkham Exchange, Its Price Expected to Benefit From New SEC Leadership

XRP, one of the leading cryptocurrencies by market capitalization, has started trading on Arkham Exchange, according to a Friday announcement.

Major cryptocurrency exchange Arkham Exchange has added support for XRP, the native token of the Ripple network, the exchange announced Friday.

XRP is now available for both spot and futures trading on the platform.

The addition of XRP to yet another cryptocurrency trading platform comes as no surprise, given that the token has been a hot topic for the past couple of years.

The cryptocurrency enjoyed a phenomenal rally in November, outperforming other major tokens by a significant margin.

This marks a stark contrast to the situation that the XRP token found itself in early 2021. At the time, the token was delisted from all major exchanges in the US amid regulatory uncertainty following the SEC's lawsuit against Ripple.

However, Coinbase, Bitstamp and other exchanges ended up relisting the token last year after a New York District Court ruled that secondary XRP sales do not constitute securities.

XRP is now expected to benefit from the SEC's new leadership, which is widely anticipated to soften the agency's stance on crypto drastically.

As reported by U.Today, pro-crypto libertarian Paul Atkins will be taking over from Gary Gensler as the new SEC head. Gensler, of course, ended up becoming the main antagonist for XRP holders and the broader industry, despite initially being seen as a good fit for the role.

The token briefly soared past the $2.8 level before giving up some of the gains.

Following the blistering rally, the token's price appears to be stalling, currently trading at $2.42. However, some traders believe that the token has further to go.