Crypto exchange Gemini appeared to hint at plans to relist the XRP cryptocurrency on its platform, following Ripple’s legal victory against the U.S. Securities and Exchange Commission (SEC).
As reported by Coingape ↗, Gemini notified on July 13 that it was exploring listing XRP considering the summary judgment in favor of Ripple in the ongoing SEC lawsuit.
In a fresh development, the official Gemini Twitter handle responded to a query on potential XRP relisting with a “thinking face” emoji.
Several major crypto exchanges including Coinbase and Kraken have already relisted XRP following Judge Analisa Torres’s July 13 judgment that definitively concluded that the SEC failed to establish that XRP is a security.
Gemini seems to be next in line for the same as the exchange tests the waters post the legal victory.
The judgment has boosted XRP price and trading volumes by providing much-needed clarity on its legal status. XRP rallied by more than 60% immediately following the judgment.
Cameron Winklevoss, co-founder and chief executive officer of Gemini, meanwhile expressed a bullish view on Bitcoin accumulation, saying “the great accumulation of Bitcoin began with the recent flurry of spot Bitcoin ETF filings.
The judgment is a major turning point for Ripple and XRP, though the SEC is widely expected to appeal the decision. According to legal experts, an appeal if filed is unlikely to reverse the outcome in favor of the SEC.
Though the lawsuit has been a drag on XRP’s prospects over the past year, the recent development has opened up multiple opportunities for Ripple and XRP as the lawsuit uncertainty lifts.
Ripple is already exploring options to expand into the U.K. and Irish markets following the legal win. This could see XRP relisted on crypto exchanges in those jurisdictions in the coming months.
The judgment and resultant clearing of air around XRP’s status is also likely to attract more mainstream institutional interest and investment towards the cryptocurrency.
For now, however, Gemini hinting at XRP relisting plans following the Ripple win is the latest positive development for the cryptocurrency as it looks to move past the lawsuit shadow and firmly establish its place in the crypto ecosystem.