Following the US court declaration that XRP is not a security, Coinbase, the leading US-based crypto exchange, has announced that XRP is now available for trading to its users in a previously prohibited region.
Specifically, the exchange noted in a tweet that XRP is now available for its customers in Germany, allowing them to buy, sell, convert, send, receive, or store the digital asset on Coinbase.com, as well as the Coinbase mobile apps for iOS and Android.
XRP is now available to Germany residents.
Users can log in to buy, sell, convert, send, receive, or store this asset at https://t.co/Zkd27RVkGW along with the @Coinbase iOS and Android apps. To access trading, users may need to refresh their application.
— Coinbase Assets 🛡️ (@CoinbaseAssets) July 14, 2023
Read Also: XRP Finally Goes Live On Coinbase; XRP Now Fourth Largest Cryptocurrency
This is a major development for XRP, as Germany is a key market for the cryptocurrency. The country has a large and active crypto community, and the availability of XRP on Coinbase will make it more accessible to German investors.
Other Exchanges Follow Coinbase’s Lead
In addition to Coinbase, many other crypto exchanges that delisted XRP due to the SEC lawsuit against Ripple have also announced their renewed support for the digital asset after attaining regulatory clarity. The exchanges include Gemini, Bitstamp, Kraken, BitGo, Crypto.com, and Binance US.
This is also a positive development for XRP, as it shows that the cryptocurrency is gaining wider acceptance among major exchanges.
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How the Crypto Community Reacted to the News
The news of Coinbase’s expansion of XRP availability to Germany has been met with mixed reactions from the crypto community. Some have welcomed the news, while others have expressed skepticism.
One Twitter user expressed their desire to utilize XRP with Coinbase’s Visa Card. He raised concerns about the absence of an option to spend XRP using the card and inquired about the timeline for its integration.
In contrast, a skeptic voiced their opinion, suggesting that those who purchase XRP following its listing on Coinbase may face unfavorable outcomes, stating that such buyers deserve to experience potential losses.
Furthermore, the skeptic argued that market participants who remain invested in XRP rely on fostering a fear of missing out (FOMO) to ensure sufficient liquidity for their exit strategies.
Read Also: Top Legal Analyst Outlines How XRP Case Would Influence Binance and Coinbase Lawsuits
XRP Price Surges
The news of Coinbase’s expansion of XRP trading to German residents has also had a positive impact on the price of XRP.
At the time of filing this report, XRP is trading at $0.772, with a relatively 7% price uptrend in the last 24 hours. On the eve of the announcement of the ruling, XRP grew astoundingly. It nearly doubled its price within a 24-hour period.
Will XRP Continue to Rise?
It is too early to say whether XRP will continue to rise in price. However, the news of Coinbase’s expansion of XRP availability to Germany and other positive developments around the cryptocurrency could help drive further gains in the near future.
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