can coinbase receive xrp

Following the resolution of the SEC's case, Coinbase resumed XRP trading and withdrawals on October 1, 2023, enabling investors to trade and hold their XRP assets once more.

Oct 25, 2024 at 07:07 am

Can Coinbase Receive XRP?

1. Coinbase Suspends XRP Trading and Withdrawals

On January 19, 2021, Coinbase announced the suspension of XRP trading and withdrawals due to a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). The SEC alleged that XRP is an unregistered security.

2. Legal Battle and Resolution

Coinbase complied with the SEC's request and froze XRP trading and withdrawals while the case was ongoing. The legal battle lasted for over two years.

3. Settlement Agreement Between SEC and Ripple

On April 22, 2023, Ripple, the creator of XRP, reached a settlement agreement with the SEC. Under the agreement, Ripple paid a $100 million fine and agreed to surrender $200 million of stock awarded to former Ripple employees.

4. Coinbase Resumes XRP Trading and Withdrawals

On October 1, 2023, Coinbase resumed XRP trading and withdrawals. The company notified its users via email and social media platforms.

5. Impact on XRP Price

The resumption of XRP trading and withdrawals had a positive impact on XRP's price. The price of XRP increased by over 40% in the hours following the announcement.

Conclusion

After a two-year hiatus, XRP is now available for trading and withdrawal on Coinbase. The resolution of the SEC's case with Ripple has created uncertainty removed and allowed XRP investors to trade and hold their assets with confidence.