Ripple's XRP cryptocurrency has been left off Hong Kong's list of approved cryptocurrencies for trading, raising concerns about its regulatory standing. The exclusion comes despite approvals for major cryptocurrencies like Bitcoin and Ethereum. Analysts suggest the decision may be linked to Ripple's ongoing legal battles with the US Securities and Exchange Commission (SEC), which have created uncertainty around the token's classification. Hong Kong has been tightening its oversight of the crypto market and prioritizing cryptocurrencies with established market credibility and clear regulatory classification. XRP's exclusion caused its price to drop more than 12% and its open interest in the derivatives market to decline. The future performance of XRP will likely depend on gaining regulatory clarity and approval in major financial markets.



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