Coinbase Announces Relisting of XRP Following Ripple’s Legal Victory
Summary: Coinbase, the largest US crypto exchange, has announced it will relist XRP for trade, following Judge Analisa Torres' declaration that XRP is not an investment contract. The move comes after Ripple and XRP's victory against the SEC. Once liquidity requirements are met, the exchange plans to begin trading XRP, mostly later today.
Following Ripple Labs’ and XRP’s monumental victory against the U.S. Securities and Exchange Commission (SEC), the cryptocurrency market is riding a wave of optimistic sentiment today. Coinbase exchange has stated it would relist the digital currency for trade, adding to the excitement caused by Judge Analisa Torres’s declaration that XRP is not an investment contract.
XRP Relisted on Coinbase
The largest cryptocurrency exchange in the US, Coinbase, has announced that it “will re-enable trading for XRP (XRP) on the XRP network.”
The exchange stated:
“Coinbase will re-enable trading for XRP (XRP) on the XRP network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset remain available on @Coinbase & @CoinbaseExch in the regions where trading is supported.”
Customers were warned not to transfer their crypto to other networks, since doing so might result in the loss of their investment indefinitely. Once liquidity requirements are reached, the exchange has promised to begin trading of the digital currency, presumably later today.
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When the markets authority sued Ripple Labs in December 2020, Coinbase was one of the first exchanges to delist the XRP token on the basis that the asset is an investment contract. The exchange’s more definitive position on XRP’s status has rekindled its devotion to the coin, despite the considerable reaction it has received.