• Coinbase and Kraken have re-enabled XRP support.
  • Gemini announced it was considering resistance, while the exchange announced a possible reopening of spot and derivatives.
  • Today, the SEC ruled that XRP is not a security, as it argued in its lawsuit against Ripple.

Crypto exchanges Coinbase and Kraken have re-enabled XRP trading for US customers. Coinbase was the first to announce the relisting of its Ripple token, and Kraken soon joined the relisting as the XRP price surged.

Gemini also announced that it is considering relisting XRP for both spot and derivatives trading.

However, Coinbase said in its announcement that XRP trading may still be restricted in some jurisdictions.

The rise in the price of XRP and the action by cryptocurrency exchanges came after a U.S. court ruled early Thursday that XRP is not a security.

XRP Court Ruling Is ‘First Step’ Towards Regulatory Clarification

Commenting on the decision to reopen XRP trading, Kraken Chief Legal Officer Marco Santori said: Said:

T.That morning, the federal court for the Southern District of New York ruled that XRP is not a security.So, just minutes ago, Kraken re-enabled XRP trading for US users.

Santoru added that the exchange is considering the court’s decision on XRP as another step toward greater regulatory clarity in the United States. However, despite the bullish reaction of the cryptocurrency market to the news, Santori noted that there may still be “twists and twists” regarding the case.

We view this court decision as a first step toward meaningful legal clarification in the United States. Clarity allows us to plan, hire and invest here, where we started. This case will likely still have its twists and turns, and others will follow a similarly twisted path. Capitol Hill is also working hard. Several bills have passed Congress.this will take years,” he added.

As highlighted here, the news of the judge’s ruling against the SEC triggered massive buying pressure on XRP. This token rally has also triggered upward momentum for Stellar (XLM) and several other altcoins.

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