Coinbase and Binance.US Both Restore Support for XRP After Judge Issues Critical Ruling in SEC’s Ripple Lawsuit
Coinbase, Binance.US and other top crypto exchanges are restoring trading support for XRP following Thursday’s groundbreaking ruling in the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple Labs.
Top US crypto exchange Coinbase re-listed XRP on Thursday, followed by Binance.US a day later.
Both exchanges had suspended XRP trading a few weeks after the SEC kicked off its lawsuit against Ripple in late 2020.
They’re not the only exchanges to restore XRP support for US users. Kraken and Bitstamp also re-listed the asset on Thursday, and Gemini said it was “exploring the listing of XRP for both spot and derivatives trading.”
The SEC alleged Ripple sold XRP as an unregistered security, but Judge Analisa Torres sent shockwaves through the crypto ecosystem on Thursday when she ruled that the San Francisco payment company’s automated, open-market sales of XRP did not constitute security sales.
However, she did side with the SEC in its assertion that Ripple’s direct sales of XRP to institutional participants did represent a securities offering. The court plans to issue a separate order setting a trial date for Ripple and the SEC “in due course.”
XRP is trading for $0.720 at time of writing. The fifth-ranked crypto asset by market cap is up nearly 52% since Thursday morning but down 9.62% in the past 24 hours.
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Author: Conor Devitt
