Coinbase to restart XRP trading after Ripple court ruling (update)

Coinbase Global ( NASDAQ: COIN ) will relist Ripple Labs' XRP ( XRP-USD ) after a U.S. District Court judge ruled that the digital token is not a security in terms of sales to the general public, the crypto exchange said Thursday. "Coinbase will re-enable trading for XRP (XRP) on the XRP network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset remain available on @Coinbase & @CoinbaseExch in the regions where trading is supported," it said in a Twitter post. Trading is expected to start later on Thursday, Coinbase ( COIN ) said in a follow-up tweet, should liquidity conditions be met. "Once sufficient supply of this asset is established trading on our XRP-USD, XRP-USDT and XRP-EUR trading pairs will launch in phases. Support for XRP may be restricted in some supported jurisdictions." In January 2021, the company suspended trading in XRP ( XRP-USD ), in light of the Securities and Exchange Commission's recent suit against Ripple. But the judge's decision Thursday gave hope to crypto investors that other altcoins may not be considered securities. COIN surged after the landmark ruling, spiking 24.5% at 4:09 p.m. ET, marking its biggest intraday gain since debuting in April 2021. Driving the rally of COIN as well as a slew of crypto prices was XRP's 74% pop to $0.82. "With clarity from Ripple's case, there is increasing probability that resolution of Coinbase's case could come earlier than expected," Oppenheimer wrote in a note. Coinbase ( COIN ) isn't the only crypto exchange relisting XRP ( XRP-USD ). Bitstamp, which Ripple owns a minority stake, has resumed trading for the digital asset for its U.S. customers, making XRP-USD, XRP-BTC and XRP-USDT pairs available to trade, according to a blog post . ( Added at 5:06 p.m. ET ) More on Coinbase: Coinbase Global stock cut to Underweight on Barclays amid weak volume Coinbase adds instant messaging feature to crypto wallet Coinbase Global: An Anti-Cyclical Bet On The Crypto Market