XRP Relisted: Crypto Exchanges Rejoice in Ripple’s Partial Victory

• Ripple’s ‚partial victory‘ in US court leads to relisting of XRP by several centralized exchanges
• Judge Analisa Torres of the Southern District Court of New York ruled that XRP cannot be entirely considered a security
• Cryptocurrency trading venues, including Coinbase and Kraken, are relisting or signaling plans to add support for XRP

Ripple’s Partial Victory

On July 13th, Judge Analisa Torres of the Southern District Court of New York ruled that XRP cannot be entirely considered a security. This ruling is being seen as a huge landmark and watershed moment for the crypto verse. The judge made it clear that Ripple’s sale of XRP to institutional investors can be considered an investment contract under the status of the Howey test.

XRP Relisted By Exchanges

Crypto exchanges are quickly taking advantage of this partial victory by Ripple. Coinbase, Kraken, Crypto.com, Gemini, and other exchanges have relisted or signaled plans to add support for XRP. Chris Martin from Amberdata stated that this ruling may “implicate other crypto assets as non-securities”.

Institutional Buyers

Judge Torres‘ conclusion was based on her assessment that Institutional Buyers reasonably expected Ripple would use its capital from its sales to improve the XRP ecosystem and thereby increase its price whereas Programmatic Buyers could not realistically expect the same outcome.

Positive Impact On Crypto Market

This ruling has injected an air of optimism and renewed investor confidence in XRP and altcoins in general which is likely to have a positive impact on cryptocurrency markets overall. Platforms such as Binance may also benefit from the new clarity on what constitutes a security or commodity under US laws provided by this judgment.

Conclusion

The relisting of XRP following Ripple’s partial victory in US courts brings much needed clarity on what constitutes a security token under US law which is likely to have a positive impact on cryptocurrency markets overall going forward.