XRP set for rally after Coinbase listing in New York

Coinbase's Chief Legal Officer announced the listing of XRP for its New York clients. XRP was initially removed from the exchange in January 2021 due to an SEC lawsuit on claims of the asset breaking securities regulation. XRP could see a rally as the move should renew investors' optimism and confidence in the digital asset.

The lawsuit claimed that the token operated as an unregistered security used to fund the company's platform in 2013. The aftermath led to a long battle between Ripple and the SEC that has yet to be fully concluded. Read more:US House of Reps passes bill aiming to regulate cryptocurrencies With the lawsuit in place, Coinbase and other crypto exchanges were forced to delist XRP from their US markets, which caused a sharp decline in the token's price.

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