XRP surges 73%, surpassing BNB, as major crypto exchanges announce relisting
As both exchanges resume XRP trading, they will initially roll out XRP-USD, XRP-USDT, and XRP-EUR trading pairs, although support for XRP may face restrictions in certain areas.
The optimistic market response comes in the wake of a nuanced verdict in the lawsuit between Ripple Labs and the SEC. While Judge Analisa Torres ruled institutional sales by Ripple as securities, she stopped short of classifying all other sales similarly. Stuart Alderoty, Ripple's General Counsel, hailed the decision as a"huge win", emphasizing that XRP is not a security, as per the ruling, and neither are sales on exchanges.
Alderoty lauded the teams who have tirelessly fought this case over the years, asserting that the judgment"affirms so much of what this industry is fighting for". He called out the SEC's perceived overreach in its jurisdiction over crypto, suggesting that this verdict might set the stage for a more rational conversation about crypto regulation in the country.
Ripple's legal journey isn't over, and the case is now going to trial, but the relisting of XRP on Coinbase and Kraken has sent a powerful signal of resurgence for the embattled digital token.
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