In a significant development, Judge Torres recently announced that the sale of XRP on exchanges does not constitute a guarantee, marking an interesting turn in the long-running litigation between Ripple and the US Securities and Exchange Commission (SEC).
Following this announcement, leading cryptocurrency exchange Coinbase, which previously removed XRP due to an SEC lawsuit, announced its plans to re-register XRP. This decision by Coinbase reflects the changing legal landscape around XRP and signals renewed confidence in its compliance with regulatory requirements.
Notably, another prominent exchange, Gemini, stated in a press release that it is actively investigating the re-listing of XRP for spot and futures trading, in line with the judge’s decision. This move highlights the growing interest among exchanges to reintroduce XRP to their platforms.
Through its official Twitter account, Coinbase shared the following statement regarding the XRP re-list:
“Coinbase will reactivate trading for XRP (XRP) on the XRP network. Do not send these assets through other networks or your funds may be lost. If the liquidity conditions are met, trading is expected to start today. Once there is sufficient supply of this asset, trading will be carried out gradually on our trading pairs XRP-USD, XRP-USDT and XRP-EUR.”
The Coinbase announcement brings new hope to XRP investors and the wider Ripple community. The anticipated relisting on the Coinbase platform will provide increased accessibility and liquidity for XRP traders, enabling them to actively engage in the market.
Gemini’s investigation into XRP’s re-listing further reinforced the positive sentiment surrounding the judge’s decision. If Gemini goes ahead with the re-listing, it will expand the options for trading XRP, driving a more dynamic ecosystem for the digital asset.
As the legal battle between Ripple and the SEC takes this turn, it signals a potential shift in the regulatory approach towards XRP. The re-listing decisions by Coinbase and Gemini demonstrate the growing recognition of XRP’s unique status and distinct characteristics within the cryptocurrency market.
Overall, these developments contribute to a positive outlook for XRP and highlight the importance of regulatory clarity in fostering a thriving and compliant cryptocurrency ecosystem.