In a major development for the cryptocurrency market, Coinbase Global Inc has officially relisted XRP on its platform, pending favorable liquidity conditions.
Finally, XRP is not a “Security”
Today, the crypto ecosystem is experiencing a surge of optimism following Ripple Labs’ recent triumph over the United States Securities and Exchange Commission (SEC). Judge Analisa Torres’ declaration that XRP is not a “Security” has sparked enthusiasm, and now Coinbase exchange is joining the excitement by announcing the relisting of the digital currency open for trading.
Coinbase, the largest cryptocurrency trading platform in the United States, has reinstated trading for XRP on the XRP network. However, the exchange advises customers to avoid sending the cryptocurrency to other networks to prevent permanent loss of funds. Trading of XRP is expected to commence later today, subject to sufficient liquidity conditions being met.
The exchange shared the news via its Twitter handle, stating, “Trading is anticipated to begin later today, if liquidity conditions are met. Once a sufficient supply of this asset is established, trading on our XRP-USD, XRP-USDT, and XRP-EUR trading pairs will launch in phases. Support for XRP may be restricted in some supported jurisdictions.”
Coinbase had previously delisted XRP following the SEC’s lawsuit against Ripple Labs in December 2020, which claimed that XRP constituted an investment contract. However, with the recent favorable outcome of the legal case, Coinbase has reestablished its support for XRP, demonstrating renewed confidence in the digital asset.
However, the relisting on Coinbase is a testament to the growing interest in XRP, as other prominent exchanges, such as Gemini, have also expressed their intentions to relist XRP for both spot and derivatives trading.
XRP Hits High as Positive Sentiment Takes Hold
This relisting on Coinbase adds to the positive momentum for XRP, resulting in a significant surge in its price. Within the past 24 hours, XRP’s value has increased by over 74%, reaching a trading price of $0.8186. The relisting on Coinbase has contributed to the broader market revival, with Bitcoin (BTC) also experiencing an upturn and retesting the important psychological level above $31,000.
With the relisting on Coinbase, XRP holders and traders now have increased accessibility and opportunities to engage with the digital currency. This development marks an important milestone in the recovery and resurgence of XRP within the cryptocurrency market.
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