Coinbase Enables Ripple (XRP) Trading in New York
The cryptocurrency exchange Coinbase has enabled Ripple (XRP) trading in the state of New York. Indeed, the exchange’s chief legal officer, Paul Grewal, took to X (formerly Twitter) to share the news that the cryptocurrency is available once again with his followers.
Grewal said that the company was listening to traders regarding the asset. “We heard you and put in the work in strong partnerships with the state,” he told the community on Thursday. Conversely, Coinbase suspended XRP trading in January 2021, following the SEC’s lawsuit against the company.
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Ripple (XRP) Trading is Available on Coinbase In New York
Over the last several years, the digital asset industry in the United States has been subject to unclear regulation. Moreover, the US Securities and Exchange Commission (SEC) has made a habit of establishing regulations through enforcement.
One of the most notable companies affected by this tactic was none other than Ripple. The cross-border payment tycoon has been engrossed in a years-long legal conflict with the government agency. However, things are looking up, an impending conclusion has just been met with an important new listing for its native asset.
Indeed, prominent cryptocurrency exchange Coinbase announced that it has enabled Ripple (XRP) trading in the state of New York. The exchange’s chief legal officer shared the fantastic news, which represents a massive step forward for the company.
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The legal conflict between Ripple and the SEC is expected to reach a conclusion soon. Both sides are in the midst of the final fillings, with a concluding judgment expected to arrive sooner rather than later. Moreover, the arrival of that judgment should be massively important for XRP’s value.
Throughout 2024, XRP has struggled to build any notable momentum. Stuck around the $0.50 mark, the asset is currently trading at $0.52, and up more than 1.6% over the last 7 days, according to CoinMarketCap. However, the Coinbase listing could have a positive impact on that price in the short term.