Coinbase and Binance announce XRP relisting

Major cryptocurrency exchanges announced plans to resume trading the XRP token for U.S. users after a ruling by the U.S. District Court for the Southern District of New York in the SEC‘s case against Ripple.

On July 13, Coinbase announced the relisting of the asset. This was confirmed by the platform’s chief legal officer, Paul Grewal.

Gemini said it is studying listing XRP for both spot and derivatives trading.

Kraken announced the token’s relisting. According to the press release, trading of the asset is available to U.S. users in all fiat pairs, BTC, ETH and USDT.

Representatives from Crypto.com said that U.S. customers can trade XRP in the Crypto.com app.

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“Buy XRP at real value in USD, EUR, GBP and more than 20 fiat currencies,” the statement said.

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On July 14, Binance announced the launch of XRP/USDT trading on its U.S. platform.

Bitstamp followed suit. According to the statement, trading of the token is available in the U.S.

The decision to delist the token by several major exchanges followed the SEC lawsuit against Ripple in 2020. The agency accused the company of selling unregistered securities in the form of XRP.

Then, trading of the asset for U.S. residents was halted by Coinbase, Galaxy Digital, Bitstamp, Crypto.com and B2C2. Bitwise Asset Management removed the token from its flagship index fund Bitwise 10 Crypto Index Fund.

In January 2021 Kraken closed American customers’ access to XRP trading. Bakkt’s Gavin Michael excluded XRP from new products, and Grayscale Investments promised to liquidate the Ripple-based investment trust.

On July 13, 2023, Judge Analisa Torres issued a ruling in favor of the California-based blockchain company. In her view, programmatic sales and other distributions of XRP by Ripple do not constitute offers and sales of investment contracts.

However, institutional XRP sales violated U.S. securities laws.

As a reminder, assets in the top-10 by market cap moved into the green zone. Ethereum broke the $2,000 level.