XRP Reinstated for Trading on Exchanges After Landmark Court Ruling
XRP, the token behind Ripple Labs Inc., has been reinstated for trading on exchanges such as Coinbase and Kraken after a US court ruled that it is not a security when sold to the public. Coinbase, which had stopped trading XRP in 2021 due to a legal battle with the US Securities and Exchange Commission (SEC), has regained confidence in the token and relisted it. Kraken and Gemini have also followed suit by announcing the relisting of XRP. Binance never delisted XRP and has listed it on Binance.US. Bitstamp has resumed trading of XRP in the United States.
Key Points:
- XRP has been reinstated for trading on exchanges following a court ruling that it is not a security when sold to the public.
- Coinbase, Kraken, Gemini, Binance, and Bitstamp have all relisted or listed XRP for trading.
- The court ruling is seen as a big win for Ripple and the crypto community, inspiring hope in other firms fighting similar battles with the US regulator.
- Following the court ruling, XRP surged to its highest price since April of last year.
- The case is not yet over, as a trial and possible appeal are still to come.
Hot Take:
The reinstatement of XRP for trading on exchanges after the court ruling is a significant victory for Ripple and the wider crypto community. It signals a shift in the regulatory landscape and a possible precedent for other tokens facing scrutiny from the SEC. The surge in XRP’s price following the ruling demonstrates the positive impact of regulatory clarity on the market. However, the case is not fully resolved, and further legal proceedings may still take place. Nevertheless, this development is a positive step forward for the future of cryptocurrencies.
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