Ripple’s Legal Win Leads to Exchanges Adding Support for XRP
Ripple’s recent victory in its legal battle against the SEC has caused a shift in the cryptocurrency industry, prompting several exchanges to reintroduce support for XRP. This milestone ruling by the judge, which stated that Ripple did not violate securities law by selling XRP tokens on public exchanges, has sparked enthusiasm within the crypto community and acted as a catalyst for XRP’s price.
- Major exchanges such as Coinbase, Crypto.com, Kraken, and Bitstamp have relaunched trading services for XRP in response to the news.
- XRP experienced a surge of 70% in value, reaching a 19-month peak of $0.95 and surpassing BNB as the fourth-largest digital asset.
- Coinbase, which had suspended services with XRP earlier this year, praised Ripple’s success and added XRP trading pairs for its customers.
- Kraken has seen customers purchase over 273 million XRP, worth around $212 million, since reintroducing the token.
- Crypto.com now offers users the ability to buy XRP with over 20 fiat currencies.
Gemini, led by the Winklevoss twins, has expressed interest in re-listing XRP but has not yet made a final decision.
Hot Take:
The legal victory for Ripple has not only boosted XRP’s value but has also led to a renewed interest in the token from major cryptocurrency exchanges. This development signifies a turning point for XRP, as it regains support from platforms that previously removed it. The industry-wide support for Ripple’s success reflects the broader impact of this ruling on the entire cryptocurrency market. However, the response from Gemini remains uncertain, indicating that further deliberation is needed before deciding on the relisting of XRP.
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