On 13 July 2023, within 30 minutes of the Coinbase announcement to relist XRP
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A few minutes later, Marco Santori, Chief Legal Officer at Ripple, explained the reason for the decision to relist XRP.
Santori said:
“This morning, the Federal Court for the Southern District of New York ruled that XRP is not a security. As such, just a few minutes ago, Kraken re-enabled trading in XRP for US users. We view the Court’s decision as a first step toward meaningful legal clarity in the US. Clarity allows us to plan, to hire and to invest in here, where we were founded. The case is still likely to take some twists and turns, and other cases will follow similarly winding paths. Capitol Hill is working hard, too. Multiple bills are making their ways through congress. This is going to take years. We’re honored to be a part of the movement advocating for clarity — for practical, common sense law that will minimize the risks and maximize the benefits of blockchain tech.“
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Meanwhile, crypto exchange Gemini has announced that it is “exploring the listing of XRP for both spot and derivatives trading.”
As of 9:10 p.m. UTC on 13 July 2023, XRP is trading at around $0.785, up 74.85% in the past 24-hour period.
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