ChainCatcher reported on July 13, 2023, that Coinbase will relist XRP on the XRP Ledger once liquidity requirements are met. The exchange plans a phased rollout of XRP/USD, XRP/USDT, and XRP/EUR trading pairs after ensuring adequate asset supply.
Background and Regulatory Developments
- Previous Delisting: Coinbase removed XRP in 2020 due to concerns over regulatory clarity and security.
- Recent Court Ruling: A U.S. district court judge ruled that the SEC lacks authority to enforce actions against Ripple Labs, XRP's issuing entity, marking a pivotal shift in the asset's legal status.
Key Details of the Relisting
- Phased Approach: Trading pairs will be introduced incrementally.
- Liquidity Requirements: Coinbase emphasized meeting liquidity thresholds before full relisting.
- Supported Pairs: Initial support includes USD, USDT, and EUR markets.
Market Implications
- Investor Confidence: The relisting signals renewed institutional trust in XRP.
- Liquidity Boost: Expected to enhance XRP's market depth and trading volume.
Frequently Asked Questions (FAQ)
Q1: Why did Coinbase delist XRP originally?
A1: Coinbase cited unresolved regulatory concerns and potential SEC actions as primary reasons for the 2020 delisting.
Q2: What changed legally to prompt the relisting?
A2: A federal court ruled that the SEC overstepped its jurisdiction in targeting Ripple Labs, effectively classifying XRP as a non-security in secondary market sales.
Q3: When will XRP trading resume on Coinbase?
A3: No exact date is confirmed, but Coinbase stated it will occur "after sufficient liquidity is established."
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Note: This article is for informational purposes only and does not constitute financial advice.
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