Coinbase and Binance both bring back support for XRP after a judge’s important ruling in the SEC’s Ripple lawsuit
After a historic judgement on Thursday in the U.S. Securities and Exchange Commission’s (SEC) case against Ripple Labs, major cryptocurrency exchanges are re-enabling trade in XRP.
This past Thursday, XRP was re-listed on Coinbase, and on Friday, Binance.US followed suit. Trading in XRP was suspended from both markets in late 2020, not long after the SEC filed its action against Ripple.
They aren’t the only marketplaces to bring back XRP for US customers, though. On Thursday, the currency was once again available for trading on Kraken and Bitstamp, while Gemini said that it was “examining the listing of XRP for both spot and derivatives trading.”
When Judge Analisa Torres decided on Thursday that Ripple’s automatic, open-market transactions of XRP did not constitute security sales, it sent shockwaves across the crypto sector.
The SEC had claimed Ripple traded XRP as an unregistered security. She concurred with the SEC’s stance that Ripple’s direct distribution of XRP to institutional investors amounted to a securities offering.
A trial date between Ripple and the SEC will be determined in a separate order that the court hopes to issue “in due course.” As of this writing, one XRP can be purchased for $0.720.
The market capitalization of the fifth largest cryptocurrency has increased by about 52% since Thursday morning, but it has decreased by 9.62% in the previous 24 hours.