Crypto Exchanges Relist XRP Token After Court Ruling
Major crypto exchanges like Coinbase and Kraken have relisted the XRP token following a federal judge’s ruling that XRP is not a security. This decision has led to a significant surge in XRP prices, making it the fifth-largest cryptocurrency by market capitalization.
Key Takeaways:
- Coinbase, Kraken, and other major exchanges have relisted XRP after the court ruling that XRP is not an investment contract.
- Coinbase’s stock price rose in anticipation of a positive outcome in its own legal battle with the SEC.
- The ruling in the Ripple case does not mark the end of regulatory discussions, as the SEC can still appeal and Congress is working on crypto legislation.
Exchange Actions:
U.S. District Judge Analisa Torres ruled that XRP is not a security when traded on secondary exchanges, granting Ripple a partial victory in the ongoing case.
Coinbase and Kraken have relisted XRP for trading against various fiat pairs, ETH, BTC, and USDT.
Gemini and Bitstamp are also considering listing XRP for spot and derivatives trading.
Market Impact:
The recent ruling has boosted confidence in Coinbase amid its legal battle with the SEC. Coinbase’s stock price surged by approximately 24% in response to the news.
While exchanges have relisted XRP, legal experts caution that the classification of XRP as a non-security may still face challenges.
Despite the positive developments, uncertainty remains in the crypto markets, pending further regulatory clarity from Congress.
