Ripple XRP is Back on Coinbase, Gemini, and Kraken

Crypto Twitter was sent into overdrive as the hashtag 'RelistXRP' started trending in several countries. Thousands of dedicated tweets streamed in, discussing the latest court ruling that stated Ripples XRP token is not “necessarily” security, sparking renewed excitement and interest in the cryptocurrency.

In a remarkable turn of events, three major US cryptocurrency exchanges - Coinbase, Kraken, and Gemini - have decided to re-list Ripples XRP. This decision comes approximately three years after the token's trading was suspended due to legal issues between the SEC (Securities and Exchange Commission) and Ripple.

The court ruling has delivered a series of unexpected revelations that have undoubtedly swung the pendulum in favor of Ripple. XRP enthusiasts across the globe were stirred by the presiding judge's decision, which suggested that Ripple's XRP could, in certain circumstances, be viewed more like a currency than a security. This has breathed new life into the XRP community, fostering hopes of other crypto platforms following suit and ending their embargo on XRP trading.

Earlier in the day, federal district judge Analisa Torres laid down a verdict stating that Ripple's programmatic sales to retail investors and distributions of XRP to Ripple employees should not be deemed as sales of unregistered securities. However, the judgment did not touch upon secondary market sales of XRP on crypto exchanges. This leaves room for further debate and scrutiny.

Back in 2020, the SEC instigated a lawsuit against Ripple CEO, Brad Garlinghouse, and Co-Founder, Chris Larsen, accusing them of raising $1.3 billion via continuous, unregistered securities offerings since 2013. Despite Ripple challenging these charges, the legal battle with the SEC has dragged on for years, with the company staunchly contesting the allegations in court.

Crypto exchanges became increasingly wary of listing any assets that might be construed as illegal, especially given the potential repercussions if the SEC emerged victorious and the courts branded XRP sales as unregistered securities. Those who chose to keep the token listed on their platforms risked being subjected to legal action and hefty fines.

Ripple's legal team retaliated against the SEC's $1.3 billion lawsuit, contending that the regulatory body was “Out of Step Domestically and Globally.” They pointed out that prior to this case, no securities regulator worldwide had classified XRP as a security.

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