After two years, Kraken and iTrustCapital revealed they have already relisted the coin, and exchanges like Gemini may follow suit. Coinbase also indicated it would enable XRP trading once more.
The XRP cryptocurrency may soon be making a reappearance on multiple trading platforms as a result of Ripple Labs’ recent court victory over the SEC.
A well-known cryptocurrency exchange, Gemini, indicated its desire to investigate listing XRP for spot and derivatives trading, encouraged by the court’s decision that XRP does not fall under the SEC’s jurisdiction as a security.
Similar to this, Coinbase intends to resume XRP trading after a two-year sabbatical. Industry trepidation has been raised by the SEC’s enforcement efforts against exchanges like Binance and Coinbase over potential unregistered securities offerings. However, the legal precedent established in the Ripple case may allay worries for exchanges that provide XRP trading.
W.— Coinbase 🛡️ (@coinbase) July 13, 2023
W for @ripple.
W for the industry.
W for the builders.
W for a clear rulebook.
W for updating the system.
Oh, and XRP is now open for trading.
Sheila Warren, CEO of the Crypto Council for Innovation, described the Ripple decision as “a significant development.” She stressed the consequences for the entire industry, claiming that they weaken the SEC’s control over underlying assets and call into question the idea that there is previously established regulatory certainty.
Exchanges like OKX applauded the court ruling in Ripple’s favor, but they haven’t yet said how they plan to relist the token. After a two-year absence, iTrustCapital, a cryptocurrency company, claimed to be the first to reintroduce XRP. Kraken, a well-known crypto exchange, originally took a shady posture on social media before formally confirming its plan to relist the coin.
A wave of XRP delistings from exchanges serving U.S. consumers resulted from the SEC filing charges against Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen in December 2020. By delaying any XRP-related decisions until the court case was over, Uphold, a cryptocurrency payments processor and exchange operator, showed its support for the XRP community. Uphold welcomed the court’s decision as justification for their stance.