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Following the recent ruling in Ripple Labs’ case against the U.S. Securities and Exchange Commission (SEC), prominent cryptocurrency exchanges including Coinbase and Binance.US have decided to reinstate trading support for XRP.
Coinbase was the first to re-include XRP in its listing on Thursday, closely followed by Binance.US on the subsequent day. Both exchanges had previously discontinued XRP trading in the wake of the SEC’s lawsuit initiation against Ripple in late 2020.
Other platforms have followed suit, with Kraken and Bitstamp re-introducing XRP to their listings on Thursday. Gemini also indicated its interest in potentially including XRP for both spot and derivatives trading.
The SEC’s claim that Ripple had sold XRP as an unregistered security was a central contention in the lawsuit. However, in a move that rocked the crypto community, Judge Analisa Torres ruled on Thursday that Ripple’s automated, open-market sales of XRP did not amount to security sales.
Judge Torres, however, agreed with the SEC’s contention that Ripple’s direct sales of XRP to institutional participants represented a securities offering. The court plans to announce a trial date for Ripple and the SEC in due course.
At present, XRP is trading at $0.7232. The fifth-largest crypto asset by market cap has seen an overall increase of over 50% since Thursday morning according to CoinMarketCap data.