The second-largest cryptocurrency custodian in the United States, which Mike Novogratz and his Galaxy Digital fund previously came close to acquiring, has now restarted XRP trading following the court’s decision that was partially in favour of Ripple Labs and XRP. The organisation is BitGo.
XRP trading relaunched on BitGo
XRP is once again available for trading on BitGo Prime, according to cryptocurrency exchange and major custodian BitGo, which tweeted “XRP, welcome back.” The exchange’s account praised Ripple Labs and its legal team on their significant victory over the SEC, which was revealed on Thursday.
BitGo has followed the lead of other significant U.S. exchanges, including Coinbase, Kraken, Bitstamp, and Crypto.com, who have also started trading their XRP pairings. When the SEC sued the blockchain juggernaut in 2021, Coinbase was one of the first exchanges to halt XRP trade.
Customers of Coinbase could still store and transfer their XRP holdings using their XRP wallet, nevertheless.
In a recent tweet, CZ, the CEO of Binance, claimed that the exchange never delisted XRP. However, Binance US carried it out at the beginning of 2021. However, XRP trading has also restarted on this exchange.
XRP price gets enormous boost
As U.Today previously reported, the judge determined that Ripple Labs’ institutional sales of XRP constitute as securities sales. Judge Analisa Torres did not make the same statement about XRP programmatic sales and other instances where the corporation was the seller.
Many users of Crypto Twitter have congratulated Ripple and its CEO, Brad Garlinghouse, on their significant victory over the SEC. The announcement of the decision and the return of XRP trading on numerous crypto platforms caused the price of XRP to soar by around 70% by this point.
The price of XRP, the fourth-largest cryptocurrency at the time of writing, is $0.7927. Within hours, it moved up from sixth to fourth, increasing its market capitalization worth.
