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Is XRP ready to make its first move as Ripple claims victory? The answer is…

Press Releases Crypto News AMB-Crypto Is XRP ready to make its first move as Ripple claims victory? The answer is…

Gemini announced it may restart offering trading services for XRP on its platform
The announcement came hours after Ripple vs SEC case saw a final hearing in court

The infamous cryptocurrency known for its battle with the SEC, XRP, saw its price skyrocket over the past few hours. The credit for this rise goes to the conclusion of the long-awaited court battle between Ripple and the US Securities and Exchanges Commission (SEC). In its final ruling, the Judge declared that XRP did not constitute the sale and offer of an investment contract.

This ruling meant that the sale of the coin on crypto exchanges and through algorithms was not a security. This could significantly alter the SEC’s actions against all the other altcoins and could even open doors for new regulation.

However, the court did also rule that the institutional sale, XRP sold directly to institutional buyers and other investors, breached the federal securities law. The next phase of this case will see both parties presenting their arguments in a trial court. The date for the same would be determined in a separate order, along with the pre-trial deadlines.

While Ripple won part of the case, it was, nonetheless, a significant one. The effects of it were shown on the price of XRP. According to CoinMarketCap, XRP was trading at $0.819 at press time and the coin registered a double-digit rise of over 17% in the past hour. The last 24-hour chart showed that XRP’s value had skyrocketed by over 70%, while the past seven-day chart registered a similar rise.

Read XRP’s Price Prediction 2023-24

XRP to make a comeback on leading crypto exchanges?

What was notable was that immediately after the ruling, Gemini – the leading American crypto exchange – announced that it may relist XRP. The cryptocurrency witnessed an exodus of several American crypto exchanges after the SEC launched a

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Author: Priya NV

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