In a significant development, Judge Torres recently announced that the sale of XRP on exchanges does not constitute a security, marking an exciting turn in the long-running litigation between Ripple and the U.S. Securities and Exchange Commission (SEC).
Following this announcement, leading cryptocurrency exchange Coinbase, which had previously delisted XRP due to the SEC lawsuit, declared its plans to re-list XRP. This decision by Coinbase reflects the shifting legal landscape surrounding XRP and signifies a renewed confidence in its compliance with regulatory requirements.
Notably, another prominent exchange, Gemini, stated in a press release that it is actively investigating the relisting of XRP for both spot and futures trading, aligning with the judge’s decision. This move highlights the growing interest among exchanges to reintroduce XRP to their platforms.
Taking to its official Twitter account, Coinbase shared the following statement regarding XRP’s relisting:
“Coinbase will re-enable trading for XRP (XRP) on the XRP network. Do not send this asset over other networks or your funds may be lost. If liquidity conditions are met, trading is expected to start later today. Once there is sufficient supply of this asset, trading will be phased in on our trading pairs XRP-USD, XRP-USDT, and XRP-EUR.”
Coinbase’s announcement brings renewed hope to XRP investors and the broader Ripple community. The anticipated relisting on Coinbase’s platform will provide increased accessibility and liquidity for XRP traders, enabling them to engage in the market actively.
Gemini’s investigation into relisting XRP further reinforces the positive sentiment surrounding the judge’s decision. If Gemini proceeds with the relisting, it will broaden the options for XRP trading, fostering a more vibrant ecosystem for the digital asset.
As the legal battle between Ripple and the SEC takes this turn, it signifies a potential shift in the regulatory approach towards XRP. The relisting decisions by Coinbase and Gemini showcase the growing recognition of XRP’s unique status and its distinct characteristics within the cryptocurrency market.
Overall, these developments contribute to a positive outlook for XRP and highlight the importance of regulatory clarity in fostering a thriving and compliant cryptocurrency ecosystem.