Reintroducing Ripple (XRP) Trading on Coinbase in New York
Now, you have the opportunity to start trading Ripple (XRP) on Coinbase again, even if you are based in New York. This decision was communicated by Paul Grewal, the Chief Legal Officer at Coinbase, through a tweet. The effort to bring back XRP trading in New York was a collaborative one, involving close work with the State.
- XRP trading available again on Coinbase in New York
- Announcement made by Coinbase’s Chief Legal Officer, Paul Grewal
- Collaborative effort with the State to reintroduce XRP trading
- Residents of New York can now trade and store XRP on Coinbase
Ripple (XRP) Returns to Coinbase after 3.5 Years
In January 2021, Coinbase made the decision to remove Ripple (XRP) from its platform, marking a duration of 3 and a half years without XRP trading on the exchange. This action was a result of the ongoing legal battle between the SEC and Ripple, where the SEC accused Ripple of offering unregistered securities.
- Coinbase removed Ripple (XRP) from its platform in January 2021
- Reason behind removal was the SEC vs. Ripple legal battle
- Market cap of XRP dropped significantly post-delisting
- Coinbase supported Ripple throughout the legal battle with the SEC
As a result of the delistings by various crypto-exchanges, the market cap of XRP plummeted from $70 billion to $29 billion. Despite this, Coinbase continued to show solidarity with Ripple and opposed the SEC’s actions, even filing a motion to support Ripple, which was eventually accepted by the judge.
The Ripple (XRP) Price
Following the announcement of Coinbase reintroducing XRP trading in New York, there was no major price movement for XRP in the past 24 hours. Currently, the price of XRP remains at $0.52, consistent with the previous day’s value. However, there has been a notable increase of 106% in XRP trading volumes in the last 24 hours.
- No significant price movement for XRP post-reintroduction on Coinbase
- XRP priced at $0.52 at present
- Trading volumes for XRP increased by 106% in the last 24 hours
- Total market cap for XRP close to $29 billion
Hot Take: Final Thoughts
With the reintegration of Ripple (XRP) trading on Coinbase in New York, you now have the chance to engage with XRP again on one of the prominent crypto-exchanges. Despite the challenges faced in the past, this development signals a positive step for both Ripple and the broader crypto community. Keep an eye on the market trends and potential opportunities that may arise with the resurgence of XRP trading on Coinbase.
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