XRP Price Soars Closing in On $1 as Coinbase and Kraken Relist Token

XRP price towered across the crypto market on Thursday and Friday bolstered by the landmark ruling from Judge Analisa Torres in the Ripple vs. SEC lawsuit, deeming XRP not a security.

Timeline of Xrp

The second largest crypto custodian in the U.S., once nearly acquired by Mike Novogratz and his Galaxy Digital fund, has resumed XRP trading after the court made a verdict partly in favor of Ripple Labs and XRP. That entity is BitGo.

The latest price moves in bitcoin (BTC) and crypto markets in context for July 14, 2023. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

Exchanges that delisted XRP back in 2020 in the wake of the lawsuit filed by SEC are now exploring the opportinities for XRP relisting. Among them are Gemini exchange, Kraken exchange, and Bitstamp.

Ripple Labs, the company behind the cryptocurrency XRP, achieved a significant partial victory in its long-standing legal battle against the U.S. Securities and Exchange Commission (SEC).

Coinbase, KrakenPro, and Crypto dot com are some of the crypto exchanges that reopened trading for XRP after a partial ruling in Ripple's favor. Winklevoss-founded platform Gemini also said it is mulling listing Ripple's coin for spot and derivatives trading pairs.

Even as the crypto market responded immensely to a judge's partially favorable judgement in Ripple's legal battle with regulators, driving Ripple's XRP up 25%, dire warnings surfaced concerning that part of the order that wasn't favorable to Ripple.

XRP Price Analysis: On July 13th, the 4th largest cryptocurrency-XRP shocked the crypto investors with a 73% intraday gain. This massive growth was triggered when Ripple scored a partial victory in its long-coming legal battle against the Securities and Exchange Commission (SEC) as the federal judge ruled that XRP is not a security in programmatic

The recent surge in the XRP market, fuelled by Ripple's legal victory against the Securities and Exchange Commission (SEC), has resulted in a wave of short liquidations. Approximately $300 million worth of short positions were obliterated as XRP's price skyrocketed, leaving bears reeling in the wake of a monumental 100% rally.

Ripple Labs' recent victory against the United States Securities and Exchange Commission (SEC) is being hailed as a significant blow to the regulator's “war on crypto.” However, legal experts caution that it is not a definitive victory for the industry as a whole.

Yesterday's pronouncement by the SDNY judge that XRP can only be partially classed as a security led to a huge rise in cryptocurrencies. SEC loses millions of taxpayer dollars After a 3-year long court battle and millions of US taxpayer dollars spent on fighting the case by the SEC the judge has mainly come down on the side of Ripple, which also spent more than $200 million on legal costs.