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.
XRP trading relaunched on BitGo
Crypto exchange and large crypto custodian BitGo has announced through its Twitter page that it has restored XRP as a trading asset on BitGo Prime, tweeting "XRP, welcome back." The account of the exchange also congratulated Ripple Labs and its legal team on its major win against the SEC announced on Thursday.
Welcome back $XRP 👏🏻
Congratulations to 🧄 🏠 and the @Ripple team. 🤝
Trading is now live on BitGo Prime! 💪🏻 — BitGo (@BitGo) July 14, 2023
BitGo has followed the example of other major exchanges in the U.S., which have also resumed trading their XRP pairs – Coinbase, Kraken, Bitstamp and Crypto.com. Coinbase was among the first platforms to suspend XRP trading in 2021 after the SEC filed a lawsuit against the blockchain giant.
However, Coinbase customers were allowed to still use their XRP wallet for storing and transferring their XRP stashes.
The head of Binance, CZ, in a recent tweet stated that Binance never delisted XRP. However, it was done by Binance US in early 2021. But even this exchange has resumed trading XRP as well.
XRP price gets enormous boost
As reported by U.Today earlier, the judge ruled that the institutional sales of XRP made by Ripple Labs qualify as security sales. However, Judge Analisa Torres did not say the same about programmatic sales of XRP and other cases when selling was performed by the company.
Many on Crypto Twitter have sent their congratulations to Ripple and its chief executive, Brad Garlinghouse, on this major win against the SEC. The price of XRP exploded by nearly 70% by now on the news of the verdict and many crypto exchanges restoring XRP trading.
At the time of this writing, the fourth largest cryptocurrency, XRP, is going at the price of $0.7927. It jumped up from 6th place to 4th within hours, boosting its market capitalization value.