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Crypto News

After SEC’s Ripple Lawsuit Result, Coinbase and Binance.US Restore Support for XRP

Author

Jay Solano

Tags

Reading time

1 min
Last update

Author

Jay Solano

Tags

Reading time

1 min
Last update

Author

Jay Solano

Tags

Reading time

1 min
Last update

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Following Thursday’s momentous SEC verdict against Ripple Labs, Coinbase, Binance.US, and other big crypto exchanges are restoring XRP trading service.

Leading US cryptocurrency exchange On Thursday, Coinbase and Binance.US relisted XRP.

After the SEC sued Ripple in late 2020, both exchanges banned XRP trading.

They’re not the only exchanges to reinstate US XRP support. Kraken, Bitstamp, and Gemini all re-listed the asset on Thursday.

Judge Analisa Torres’ decision on Thursday that Ripple’s automatic, open-market sales of XRP did not constitute security sales stunned the cryptocurrency community in response to the SEC’s allegations that the San Francisco payment startup traded XRP as an unregistered security.

She agreed with the SEC, nevertheless, when it claimed that Ripple’s direct sales of XRP to institutional participants did constitute a securities offering. The trial date for Ripple and the SEC will be determined in a separate order that the court will issue “in due course.”

At the time of writing, the price of XRP is $0.720. By market capitalization, the fifth-placed cryptocurrency is up roughly 52% since Thursday AM but down 9.62% over the previous day.