In the long-running lawsuit between Ripple and the American Securities and Exchange Commission (SEC), eyes were turned to altcoin after Judge Torres announced that the sale of XRP on exchanges does not constitute a security. This statement has been a great source of relief for the Ripple community.
Previously, the SEC’s lawsuit against Ripple raised the question of whether XRP should be considered a security. The SEC had claimed that Ripple was issuing unregistered securities in connection with its XRP sales. This situation caused many cryptocurrency exchanges to worry and avoided listing the altcoin.
However, Judge Torres’ statement caused great enthusiasm in the Ripple community. The judge explained that the sale of XRP on exchanges does not constitute a security.
Following this development, the popular cryptocurrency exchange Coinbase will re-list XRP. announced. Coinbase, which previously delisted the altcoin due to the SEC lawsuit, is preparing to offer XRP to its users again with the decision of Judge Torres. This marks a positive step forward for XRP in terms of liquidity and adoption, creating a lot of excitement in the Ripple community.
Coinbase said in a statement on its official Twitter account:
“Coinbase will re-enable trading for XRP on the XRP network. Do not send this asset over other networks or your funds may be lost. If liquidity conditions are met, trading is expected to start later today. Once there is sufficient supply of this asset, trading on our XRP-USD, XRP-USDT and XRP-EUR trading pairs will be phased out.”
Gemini also put XRP listing on the agenda
Crypto exchange Gemini said earlier on Thursday that it is considering relisting XRP.
“Given today’s decision that selling XRP on exchanges is not a security, Gemini is considering listing XRP for both spot and derivatives trading.”
The altcoin gained more than 80% on Thursday and hit its highest level since April 2022.
You can follow the current price action here.