In the wake of Ripple Labs’ legal triumph against the Securities and Exchange Commission (SEC), cryptocurrency exchanges are swiftly restoring XRP trading on their exchanges. As a result, users can once again engage in trading activities with renewed enthusiasm for the XRP cryptocurrency.
On June 13, U.S. District Judge Analisa Torres ruled that the Ripple token, XRP, is not considered a ‘security.’ As a result, Leading exchanges like Coinbase, Kraken, Gemini, Bitstamp, and several others have joined the race to list XRP token again, as evidenced by their respective statements.
In response to Ripple’s victory, Coinbase announced on Thursday its plan to restart trading for Ripple’s token on its platform, as long as there is enough liquidity for the token. Coinbase added that the exchange will “re-enable trading for XRP (XRP) on the XRP network.”
Another crypto exchange, Gemini, expressed its openness to potentially listing the token in light of the court decision. In a tweet, the exchange stated that “Given today’s ruling that the sale of XRP on exchanges is not a security, @Gemini is exploring the listing of XRP for both spot and derivatives trading.”
Kraken, a prominent crypto exchange, made an announcement that XRP trading is now available on its exchange for users in the United States. In a blog post, Kraken expressed its enthusiasm by stating, “Kraken is excited to announce that United States residents can deposit and trade XRP!”
In a recent development, Bitstamp has announced its decision to reintroduce the toke on its exchange. The exchange stated in an email that it has promptly resumed trading of XRP in the United States, following a court ruling. Bitstamp also highlighted its status as one of the first platforms to list XRP, emphasizing its role as a prominent liquidity provider for the asset worldwide.
Following the recent ruling by a U.S. District Judge, it has been established that XRP is not considered a security. As a result, the obligation to register XRP with the SEC has been removed. This favorable news has had a significant impact on the price of XRP, which experienced a remarkable surge of nearly 100% within a span of just four hours.
