Hong Kong's Securities and Futures Commission (SFC) has excluded XRP from its list of approved cryptocurrencies for trading. This has led to a 12% price drop for XRP. It is believed that the exclusion is due to Ripple's ongoing legal battles with the SEC in the United States, which have left uncertainty over whether XRP should be classified as a security or a currency. The SFC has set high standards for crypto exchanges, and so far only ten platforms have met these standards. The news of XRP's exclusion has had a negative impact on its market value, with the token falling to around $2.45 and open interest dropping to a monthly low. XRP is currently trading below key moving averages, indicating the possibility of further downward pressure in the short term.



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