Coinbase has announced the relisting of XRP after Judge Analisa Torres' pivotal ruling in the Ripple vs. SEC case, clarifying that XRP is not a security. This decision marks a turning point for the cryptocurrency, which skyrocketed 77% to $0.82—its highest price since April 2022.
Key Developments
- Relisting Decision: Coinbase resumed XRP trading following Judge Torres’ verdict, reversing its 2021 delisting triggered by SEC allegations.
- Market Impact: XRP’s price surged within hours, reflecting renewed investor confidence.
- Phased Rollout: Trading pairs (XRP/USD, XRP/USDT, XRP/EUR) will launch incrementally, pending liquidity conditions.
👉 Explore XRP trading on Coinbase
Judge Torres’ Ruling: A Game-Changer
The court’s declaration that "XRP is not a security" provided legal clarity, prompting Coinbase and other exchanges like Gemini to reconsider their stance. Paul Grewal, Coinbase’s Chief Legal Officer, stated the exchange thoroughly evaluated the ruling before relisting.
Trading Timeline
- Initial Announcement: Trading expected to begin by 20:45 UTC on July 13, 2023.
- Liquidity Check: Coinbase confirmed trading would proceed only if liquidity thresholds were met.
"Coinbase will re-enable trading for XRP on the XRP network. Transfers are available in regions where trading is supported."
— @CoinbaseAssets
FAQs
Q: Why did Coinbase delist XRP initially?
A: In 2021, Coinbase removed XRP after the SEC sued Ripple, alleging it was an unregistered security.
Q: Is XRP trading available globally?
A: No. Support varies by jurisdiction due to regulatory restrictions.
Q: What caused XRP’s price surge?
A: The relisting news combined with the court’s ruling dispelling security concerns fueled investor optimism.
👉 Stay updated on XRP market trends
Market Reaction and Future Outlook
- Price Recovery: XRP’s rally to $0.82 signals strong bullish sentiment.
- Exchange Responses: Gemini also hinted at relisting, indicating broader industry confidence.
Key Takeaways
- Legal Clarity: The ruling sets a precedent for how cryptocurrencies are classified.
- Investor Confidence: Immediate price action reflects restored trust in XRP’s legitimacy.
Disclaimer: This article is for informational purposes only. Conduct independent research before investing.
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