Blockchain.com, a cryptocurrency exchange, has decided to relist the XRP coin on its platform following a court ruling that determined XRP sold on the secondary market is not a security. Users of the platform were notified about the availability of XRP in their cryptocurrency wallets. The New York Federal Court’s clarification specified that XRP can only be considered a security if it is initially sold to institutional investors.
Blockchain.com had previously removed support for XRP due to an ongoing lawsuit against Ripple by the US Securities and Exchange Commission (SEC). Despite the relisting, the SEC still maintains that XRP is an unregistered security.
However, the re-listing of XRP on Blockchain.com did not significantly impact its price. Despite the recent rally in the overall cryptocurrency market, XRP did not experience any significant growth and is currently trading at $0.6020.
Blockchain.com is not the only platform to reconsider its stance on XRP. In July, the American division of the largest crypto exchange, Binance, resumed XRP trading. Subsequently, the Gemini trading platform also followed suit.