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  • Writer's pictureJamal Saafir

XRP Back On Exchanges Coinbase, Kraken, and Others!

After the July 13th Ripple Labs court victory deeming XRP token not a security, exchanges have been reintroducing the token for trade with its customers. Two of those exchanges are Coinbase and Kraken.

If you recall, back in January of 2021, Coinbase suspended trading of the XRP token due to the United States Securities and Exchange Commission’s lawsuit against Ripple Labs, Inc, the creators of the XRP cryptocurrency.

In the delisting announcement Coinbase stated, “In light of the SEC’s lawsuit against Ripple Labs, Inc, we have made the decision to suspend the XRP trading pairs on our platform.”

Later in the announcement, there was another statement that many viewed as a glimmer of hope that XRP would return to the platform for trading when the lawsuit concluded. That statement read, “We will continue to monitor legal developments related to XRP and update our customers as more information becomes available.”

Though two years later, the time to update their customers has arrived.

As reported by Decrypt, on July 13th, major US exchanges Coinbase and Kraken reintroduced XRP to their platforms. "Trading is anticipated to begin later today, if liquidity conditions are met," Coinbase wrote in its CoinbaseAssets Twitter account. "Once sufficient supply of this asset is established trading on our XRP-USD, XRP-USDT and XRP-EUR trading pairs will launch in phases. Support for XRP may be restricted in some supported jurisdictions."

If you log into your Coinbase account, you will see that it’s official, XRP is trading again!

On July 13th, Marco Santori, Chief Legal Officer of Kraken, took to his Twitter account to announce that XRP was trading again and open to US residents to trade on the Kraken platform.

Santori went on further to say, “We view the Court's decision as a first step toward meaningful legal clarity in the US. Clarity allows us to plan, to hire and to invest in here, where we were founded.”

“The case is still likely to take some twists and turns, and other cases will follow similarly winding paths. Capitol Hill is working hard, too. Multiple bills are making their ways through congress. This is going to take years.”

“We’re honored to be a part of the movement advocating for clarity -- for practical, common sense law that will minimize the risks and maximize the benefits of blockchain tech”, said Santori on Twitter.

Other well known exchanges, Bitstamp, Gemini, and, have taken the XRP ruling as a celebratory and monumental moment to reintroduce XRP trading to their platforms.

Bitstamp made the announcement on their Bitstamp Blog stating, “Good news for XRP traders - we have resumed trading for the digital asset for our U.S. customers! Bitstamp was one of the first exchanges to list XRP in 2017, and we are now one of the first exchanges to resume trading in the US.”

“Today’s decision by the District Court of the Southern District of New York prompted us to resume XRP trading on our exchange.

Bitstamp was one of the earliest exchanges to list XRP, and we are a leading liquidity venue for the asset globally. XRP is the asset most preferred by our customers after BTC and ETH, making our XRP community especially important to us.”

Cameron Winklevoss of Gemini exchange, took to his Twitter as well with words of triumph and confidence for the future of crypto, “The sale of XRP on exchanges is NOT a security. Which means the sales of all cryptos on exchanges are NOT securities and

@SECGov and @GaryGensler have NO jurisdiction over them. This is a watershed moment that relegates the SEC to TradFi and makes it a dinosaur regulator. Buh-bye”

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