The winner of the Ripple-SEC case, which has been going on for about 2.5 years, was XRP. The XRP price has gained 30% following the positive court ruling that emerged on July 13. The rally continues strongly today, with the ‘relisting’ move of major exchanges such as Binance.
Binance.US joins the trend: XRP is back on all major exchanges
Ripple (XRP) had to leave many centralized exchanges after the SEC filed a lawsuit in December 2020. Delist announcements led to triple-digit destruction in XRP price. The US centralized crypto exchange Coinbase was one of the first exchanges to delist at that time. Coinbase announced yesterday that it will relist XRP for watches after the outcome of the lawsuit.
In the hot development, BinanceUS announced that it is listing XRP again. Binance’s US arm is currently holding deposits for XRP. The official announcement also included congratulatory messages for the Ripple community. BinanceUS recently wrote on Twitter:
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Coinbase, Kraken, and Gemini were the major exchanges that took the first steps for XRP. Shortly after that, on July 14, he launched with Binance on Crypto.com. On July 14, the exchange announced that its users will be able to trade XRP with USD, EUR, GPB and more than 20 fiat currencies with deposits and withdrawals already opened. Crypto.com CEO Kris Marszalek also used Twitter to reach out to the community.
XRP price completes second rally
The XRP price initially rose 30% after the lawsuit decision that emerged yesterday evening. Subsequently, the stock market tripled its performance with the announcement of the stock market listing. On July 13, the Southern District Court of New York ruled that XRP is not a security. After this development, the XRP price skyrocketed to 60% within hours. The court says that the programmatic sales of Ripple’s XRP and other distributions do not represent the sale of investment contracts.
The Ripple rally is currently hovering around 70%. This rise helped it become the 4th largest cryptocurrency by market cap. XRP price is currently spending time in the $0.78 region. It peaked at $0.88 on the day. It is trading at $0.47 prior to the lawsuit.
Whales accompany the rally
Meanwhile, whale transactions on the XRP network also peaked in 2023 by a wide margin. In the last 24 hours, XRP has recorded 637 whale passes valued at $100,000 and above. Court decision has been the biggest catalyst to send XRP Price to the moon. Santiment reports that whale activity spiked immediately after the court ruling:
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