Ripple’s victory over the SEC has also changed the way we look at XRP. Some cryptocurrency exchanges, which had previously been removed from their lists, have re-listed them. Bitcoin exchange Gemini also hinted that it will soon relist XRP
Bitcoin exchange Gemini has given the green light for XRP!
United States-based crypto exchange Gemini gave a subtle hint on Friday about its plans to relist the XRP token on its platform soon, following Ripple’s recent victory in the US Securities and Exchange Commission (SEC) lawsuit. This development comes at a time when many of the largest crypto exchanges by trading volume are reinstating XRP trading following Judge Analisa Torres’ Summary Judgment of July 13, 2023. cryptocoin.com As you follow, Coinbase and Kraken have re-listed the token. After that, Gemini, one of the major Bitcoin exchanges, seems to be in the same line.
Judge Torres ruled that the token sale does not constitute securities. This effectively reopened the doors for XRP trading on US crypto exchanges. Because of this, the token’s trading volumes have increased significantly. In the process, the XRP price rose as high as 60% almost instantly. Currently, XRP maintains its strong stance.
Will Gemini relist XRP soon?
The Bitcoin exchange is considering the decision in favor of Ripple on July 13. Thus, he reported that he is investigating the listing of XRP for both spot and derivatives trading on his platform. As a new tip, Gemini’s official Twitter account commented with a ‘Thinking Face Emoji’ on a question about whether Gemini would relist the token.
🤔
— Gemini (@Gemini) July 21, 2023
On the other hand, Gemini co-founder and chief executive Cameron Winklevoss expressed his bullish sentiment regarding Bitcoin accumulation. He said that Bitcoin’s massive accumulation began with the flurry of spot Bitcoin ETF filings recently.
Will the US SEC appeal against the XRP decision?
After the landmark win in the lawsuit against the US Securities and Exchange Commission (SEC), the crypto market has been bullish on Ripple Labs. As a result, the XRP token price has seen a clear jump. On July 13, 2023, US judge Analisa Torres said that the company did not violate federal securities laws in the sale of its XRP token on public exchanges. Judge Torres ruled that the programmatic sale of XRP does not constitute a sale of securities. This placed responsibility on the US SEC, which had the complex task of persuading judges to appeal the Summary Resolution.
According to Bill Hughes, an attorney for ConsenSys, the developer of crypto wallet MetaMask, the federal regulator will need to act quickly if there is a chance to appeal Judge Torres’ decision. Hughes explained that the SEC must very soon notify the district court that it wishes to appeal the summary ruling. He also stated that he needed to ask permission for this. If allowed, SEC officials can present an argument as to why they should appeal.
