- XRP emerges victorious as a U.S. court rules it is not a security.
- XRP makes a remarkable comeback as major exchanges relist the token.
- After the court ruling, XRP price surges 67.40% in the last 24 hours
A major crypto twist unfolded in the crypto market as Ripple’s XRP experienced a resurgence. Several prominent exchanges have announced their plans to relist XRP. The surge follows a U.S. federal court ruling that declared the sale of XRP on exchanges and through algorithms as not constituting investment contracts. This ruling has prompted Coinbase, Gemini, Kraken, and Bitstamp to relist XRP trading on their platforms.
The court’s order, which granted a partial motion for summary judgment in the SEC case against Ripple, has yielded a favorable outcome for XRP. As a result, its trading volume displayed a staggering increase of over 1000% in the last 24 hours. The massive surge propelled XRP to claim a position among the top four cryptocurrencies, surpassing BNB and USDC.
Major Exchanges Relists XRP, What’s Next?
Coinbase, one of the leading cryptocurrency exchanges, took to Twitter to announce its plans to relist XRP. The exchange stated that it will re-enable trading for XRP on the XRP network once there is a sufficient supply of the asset. Coinbase plans to launch the following trading pairs in phases: XRP/USD, XRP/USDT, and XRP/EUR, reflecting its users’ growing interest in XRP.
Gemini, another prominent exchange, also expressed its intentions to relist XRP for both spot and derivatives trading. The court ruling served as a catalyst for Gemini to reconsider its stance on XRP. Likewise, crypto exchange Kraken wasted no time in declaring its plan to enable the US users to deposit and trade XRP on its platform.
Additionally, Bitstamp, one of the early adopters of XRP trading, swiftly reacted to the court ruling by taking initiative to relist XRP. Highlighting its global liquidity position, Bitstamp emphasized its role as a leading venue for XRP trading, while also noting Ripple’s minority stake in the exchange.
The court’s decision, coupled with the resounding support from major crypto exchanges, marks a defining moment for XRP. As it continues to gather momentum, the crypto community watches with anticipation. Meanwhile, XRP fed confidence to the fellow altcoins, which labels this day as the start of the Altcoin Season.
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XRP Soars to Top 4 Cryptos Globally, Gaining 88% in Value Following SEC Legal Win
