The cryptocurrency market has regained momentum today with the historic decision in the Ripple case. After the judge ruled that the XRP sales conducted by Ripple do not constitute investment contracts, Gemini, a US-based cryptocurrency exchange, made an attention-grabbing announcement.
XRP Continues to Rally
The lawsuit filed by the US Securities and Exchange Commission (SEC) against Ripple in 2020 has become a symbol of tension between financial regulators and crypto companies over the years. The lawsuit filed by the SEC had a significant impact on XRP, leading to its delisting from numerous cryptocurrency exchanges. Despite numerous important developments regarding the SEC-Ripple case over the years, the legal process had not reached a conclusion. However, today marked a turning point for XRP.
With the judge ruling that the XRP sales conducted by Ripple do not constitute investment contracts, XRP experienced a sharp rise in a short period of time. XRP recorded gains of up to 80% and reached price levels of $0.88 during the day.
Gemini Considers Relisting XRP
Following the SEC’s lawsuit against Ripple, many cryptocurrency exchanges delisted XRP. However, after the historic court decision, news of relisting began to emerge one after another. Gemini, a US-based cryptocurrency exchange, announced on its official Twitter account that it is considering relisting XRP following the court decision.
Gemini joined the list of exchanges announcing relisting, following the news of relisting from several other exchanges within hours. Although there is no definitive decision at the moment, Gemini stated in its announcement that they are researching the relisting of XRP for both spot and derivative trading, stating:
“Considering today’s ruling that the sale of XRP on exchanges is not a security, Gemini is researching the relisting of XRP for both spot and derivative trading.”
