Crypto Exchanges Allow XRP Trading After Ripple Ruling

investopedia.com:

Major crypto exchanges such as Coinbase (COIN) and Kraken have relisted the XRP token (XRPUSD)  after a federal judge ruled yesterday that XRP is not a security. XRP prices are up almost 25% today, making the token now the fifth-largest cryptocurrency by market capitalization.

U.S. District Judge Analisa Torres determined that XRP is not a security when traded on secondary exchanges, granting Ripple a partial victory in the ongoing case that began in December 2020.

Coinbase began XRP trading again once liquidity conditions were met on Thursday.Similarly, Kraken has also relisted XRP for U.S. traders, with trading against various fiat pairs as well as ETH, BTC, and USDT.

Gemini has also expressed its exploration of listing XRP for both spot and derivatives trading.Additionally, Bitstamp, which has a longstanding relationship with Ripple, also relisted the digital asset for its U.S. customers on Thursday.

The recent ruling in the Ripple case has given analysts a more positive outlook about Coinbase for its own case with the SEC. Coinbase and Binance were both recently sued by the regulator for allegedly operating unlicensed securities exchanges. Notably, Binance never delisted XRP from its trading platform based outside the U.S.; however, XRP was delisted from its Binance.US affiliate.

Coinbase stock saw a significant increase of roughly 24% in the past two days. The stock had also already been on an upswing in response to recent filings for spot bitcoin ETFs by major traditional finance players such as BlackRock.

Despite the view from multiple exchanges that it is now safe to relist XRP on their platforms, a number of crypto legal experts have pointed out that the classification of XRP as a non-security is not necessarily