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Bitcoin ATM operator CoinFlip has added XRP to its online order counter after a US court ruling that XRP is not a security when sold to retail investors received a slap in the face. thumb.
The announcement was made via a press release, which added that the court ruling shows the industry's potential as the United States pushes for regulatory clarity.
“The recent SEC ruling on XRP has been a much-needed boost to the cryptocurrency industry, restoring confidence and signaling a positive step towards regulatory clarity,” said Ben Wies, CEO from CoinFlip.
Ben explained that it was natural for the company to expand its offerings "given the exponential growth in demand for the brand."
“We are excited to provide people with another powerful tool to navigate the burgeoning digital economy as we strive to make cryptocurrencies accessible to everyone,” he added.
Many major cryptocurrency exchanges took XRP off the list after the now infamous SEC case broke against Ripple. Fears that XRP could be a security prompted exchanges to make this move.
But after a US judge's ruling that led to Ripple's partial victory in court, declaring that XRP was not a valuable asset when bought and sold by retail investors, many exchanges started to reinstate the token.
If liquidity conditions hold, trading is expected to resume later in the day. After building up a sufficient inventory of this asset, trading on our XRP-USD, XRP-USDT and XRP-EUR trading pairs will begin in phases. Support for XRP may be limited to certain supported jurisdictions.
— Coinbase Assets 🛡️ (@CoinbaseAssets) July 13, 2023
At press time, XRP is trading at around $0.65. It is down 7.31% in the past 24 hours, with market capitalization down 1.02% and 24-hour trading volume down 18.7%.
The price of XRP is still 127% above its 2022 peak.
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