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Coinbase Global (NASDAQ:COIN) will relist Ripple Labs’ XRP (XRP-USD) after a U.S. District Court judge ruled that the digital token is not a security in terms of sales to the general public, the crypto exchange said Thursday.
“Coinbase will re-enable trading for XRP (XRP) on the XRP network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset remain available on @Coinbase & @CoinbaseExch in the regions where trading is supported,” it said in a Twitter post.
Trading is expected to start later on Thursday, Coinbase (COIN) said in a follow-up tweet, should liquidity conditions be met. “Once sufficient supply of this asset is established trading on our XRP-USD, XRP-USDT and XRP-EUR trading pairs will launch in phases. Support for XRP may be restricted in some supported jurisdictions.”
In January 2021, the company suspended trading in XRP (XRP-USD), in light of the Securities and Exchange Commission’s recent action against Ripple. But the judge’s decision Thursday gave hope to crypto investors that other altcoins may not be deemed securities.
COIN surged after the landmark ruling, spiking 24.5% at 4:10 p.m. ET, marking its biggest intraday gain since debuting in April 2021. Similarly, XRP popped 74% to $0.82.
