XRP News: When Will XRP Be Relisted on Coinbase?

XRP Court Case Update

On July 13, Federal Judge Analisa Torres determined that Ripple’s XRP is not a security when sold to the general public but ONLY when sold to institutional investors. The ruling marks a partial win for the SEC and a clear win for Ripple holders.

 

The final verdict in the lawsuit is the most highly anticipated in the crypto ecosystem. Ripple’s winning has set precedent for other open cases that affect dozens of digital assets.

 

Gemini’s executives have lauded the court for beating the SEC and Chair in writing clear rules for crypto.

 

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When Will XRP Be Relisted on Coinbase?

XRP recorded the largest crypto asset hourly volume, reaching 2 billion after court summary judgment.

 

The XRP price shows a stark bullishness on all timeframes as investors digest a significant development in the lawsuit. The price is on course north, recording a 60% increase in 24 hours.

 

After Judge Analisa Torres released her summary judgment articulating a clear distinction between token sales on exchanges versus on launch pads, crypto executives now demonstrate a willingness to list XRP.

 

Gemini exchange indicated in a Twitter post after the court’s decision broke. Citing the announcement:

 

“Given today’s ruling that the sale of XRP on exchanges is not a security, Gemini is exploring the listing of XRP for both spot and derivatives trading.”

 

Ripple lawyer John E Deaton did not miss the opportunity to champion for XRP, sending a call to action to exchanges such as Kraken, Crypto.com, and Coinbase to list the remittance token. In his words, “…every exchange in the US should relist XRP in solidarity with today’s decision.”

 

Interestingly Coinbase Exchange has heeded the call, committing to re-enable trading for Ripple tokens on the XRP network. The announcement also details that trading could begin on the same day, provided liquidity conditions are met.

 

The remittance token has reportedly won a listing on iTrustCapital, a leading digital asset IRA software platform for cryptocurrency and physical precious metals transactions.

 

XRP Price Prediction After Lawsuit

At the time of writing, the price of XRP is $0.76 with a market capitalization of 39,871,497,253, making it the 5th largest crypto by that metric. In the past 24 hours, XRP price is on course north, recording a 61% surge with a trading volume of 11,509,752,076.

 

The current price means that XRP token has breached crucial barriers and reclaimed levels last seen in May 2022 before the Terra Luna collapse. The positivity surrounding Ripple’s case with the SEC has helped the altcoin gain by 124% since the beginning of the year.

 

One of the key drivers to actualize this impulse would be the ongoing bold moves by exchanges to list and relist XRP. With more players, local investors can easily invest and withdraw profits using their local fiat currency.

 

XRP is likely to be boosted in the medium-term by the positive ruling, which cleared a substantial part of Ripple’s operations from being targeted by the SEC’s crackdown.

 

In addition, the technical outlook also indicates strong bullish strength, with demand and accumulation showing significant positivity. An increase in buying pressure could see XRP price hit $1 soon.

 

Some XRP holders have predicted that a full-blown bull market next year may even see it beat its historical all-time high of $3.40.

 

Nevertheless, the Relative Strength Index is above 80, which suggests that the token is overbought and overvalued, an indication of a possible price retracement. Therefore, a threat of profit-taking may also interrupt the rally.

 

Here traders and investors should exercise caution and closely monitor the price action to make informed decisions in the coming days.

 

 

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