Coinbase, Other Exchanges Embrace XRP
Crypto exchanges list Ripple’s token after a US federal court ruled that token sales on exchanges and algorithms are not investment contracts.
Coinbase plans to resume trading for Ripple’s XRP token if there is enough liquidity on its platform. The exchange will launch trading pairs on XRP-USD, XRP-USDT, and XRP-EUR in phases. Peer Gemini may also list the token following the court ruling, as the sale of XRP on exchanges is not a security. Crypto exchange Kraken announced that XRP trading is live on its platform for U.S. users, and Bitstamp plans to re-list the token on its exchange. Both exchanges are leading liquidity venues for the asset globally, with Ripple owning a minority stake in Bitstamp.
The court partially granted a motion for summary judgment in the SEC case against XRP, leading to a 70% surge in the XRP token, the highest since April last year, according to CoinMarketCap data.
(With inputs from Shikha Singh)
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