Coin Edition -
- Coinbase (NASDAQ:COIN) resumes XRP trading in New York, boosting the digital asset after recent price volatility.
- SEC lawsuit against Ripple for unregistered securities casts shadow, but recent court ruling favors XRP.
- Action aligns with whales’ massive XRP moves and XRP’s notable price changes.
In a move likely to buoy XRP’s price, Coinbase, the large cryptocurrency exchange, has resumed XRP trading for users in New York. The decision comes amid significant price volatility for XRP, which reached a weekly high of $0.5535 on May 21st.
The announcement was made public by Coinbase’s Chief Legal Officer, Paul Grewal, via his social media page. In a brief statement, Mr. Grewal wrote, “XRP trading on Coinbase is now available in New York.”
XRP trading on @coinbase is available again in NY. We heard you and put in the work in strong partnership with the State. And now the word can be put out— we are back up.— paulgrewal.eth (@iampaulgrewal) May 23, 2024
Also, Whale Alert’s revelation of the massive move of XRP totaling more than 55 million has created a buzz in the community. In two separate X posts, Whale Alert shared insights on the strategic moves of large XRP holders or whales, which in turn saw a slight surge in XRP’s price.
According to Whale Alert, an unknown whale address transferred a massive 30,080,000 XRP tokens, worth 15,634,673, to Bitso. Yet another involved the transfer of 25,800,000 XRP tokens, valued at $13,407,670, to Bitstamp.