Ripple (XRP) won a narrow victory against the US Securities and Exchange Commission (SEC) yesterday. In direct response, several major exchange platforms have reauthorised the sale of XRP. On which platforms is it now possible to buy
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Several major platforms including Coinbase are once again listing Ripple’s XRP
The ruling leaves a few thorns in Ripple’s side when it comes to institutional sales, particularly in relation to its initial fundraising. But for exchanges on centralised platforms, the way is now clear, since XRP is not considered a “security” in this case.
Several major exchange platforms, including Coinbase, Kraken and Bitstamp, had opted to delist XRP in 2020-2021, just as the SEC was launching its offensive. Since then, the legal battle had dragged on, and the victory that the SEC believed to be easy had slipped away. Since the ruling, reactions from the community have been largely positive, particularly from Coinbase, which has announced a global “victory”:
W.
W for @ripple
W for the industry.
W for the builders.
W for a clear rulebook.
W for updating the system.Oh, and XRP is now open for trading.
– Coinbase ️ (@coinbase) July 13, 2023
Kraken’s reaction is more measured. The company’s head of legal affairs, Marco Santori, believes that this is a step in the right direction, but that the story is far from over :
We view the Court’s decision as a first step towards appropriate legal clarity in the United States. [However, the case will continue to evolve. Capitol Hill is working hard, and there are many bills pending in Congress. It will take years. “
Translation: the judge’s decision is encouraging for the ecosystem, but the SEC’s crusade against crypto companies is not over, and the hostile regulatory framework that could be put in place will have a marked influence.
Will other platforms list XRP again?
That said, this wind of optimism could spread to other platforms. Already, the Winklevoss brothers’ platform, Gemini, has announced that it is considering a relisting of Ripple’s XRP:
Given today’s ruling that the sale of XRP on exchanges is not a security, @Gemini is exploring the listing of XRP for both spot and derivatives trading.
– Gemini (@Gemini) July 13, 2023
For others, nothing changes: Binance had not delisted the cryptocurrency, so there is no need to add it again. In any case, the relisting has had a marked effect on the XRP price, which has been exploding since yesterday evening. Over the last 24 hours, the token has gained +66% and has once again climbed to 4th place in the ranking of the most capitalised cryptocurrencies of the moment.
