Coinbase and Kraken have made the exciting announcement that they will be relisting XRP on their platforms, allowing users to trade on the XRP network once again. This news comes after XRP was delisted by Coinbase in January 2021 due to the ongoing legal battle between Ripple and the SEC.
In a tweet, Coinbase Assets confirmed the relisting, cautioning users not to send their XRP over other networks to avoid potential loss of funds. This confirmation marks a significant step forward for both XRP and the wider cryptocurrency community.
The relisting announcement has generated a wave of optimism in the market, with investors and enthusiasts regaining confidence in XRP. Coinbase expressed its support for Ripple in a tweet, solidifying their commitment to relisting and highlighting the positive impact it could have on the industry as a whole.
Initially, Coinbase and Kraken will offer trading pairs of XRP-USD, XRP-USDT, and XRP-EUR, providing a diversified range of options to cater to the preferences and needs of their user base. However, it’s important to note that specific regions may have restrictions or limitations on XRP trading.
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The decision to relist XRP follows a significant legal victory for Ripple Labs in their ongoing battle with the SEC. Judge Analisa Torres ruled that Ripple’s institutional sales qualify as securities but did not categorize all other sales similarly. Ripple’s General Counsel, Stuart Alderoty, expressed satisfaction with the ruling, stating that it is a huge win and reaffirming that XRP is not considered a security based on this judgment, including sales on exchanges.
Despite the relisting of XRP on Coinbase and Kraken, Ripple’s legal journey is far from over. The case will proceed to trial, providing an opportunity for further legal arguments and potential outcomes. Nevertheless, the relisting of XRP on these prominent exchanges signals a resurgence for the embattled digital asset and opens the door for more constructive discussions about cryptocurrency regulation in the United States.
In conclusion, Coinbase and Kraken’s decision to relist XRP after their legal victory is a source of renewed hope for the XRP community. This move demonstrates the confidence of these exchanges in the future of XRP and stimulates discussions about regulatory frameworks within the cryptocurrency industry. While Ripple’s legal journey continues, the relisting of XRP on Coinbase and Kraken serves as a significant milestone, signifying potential growth and market opportunities for the digital asset.
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