Blockchain.com Resumes Support for XRP

In a significant development in the world of cryptocurrencies, Blockchain.com has reinstated support for XRP on its platform. This decision comes after several months of uncertainty, which stemmed from legal battles surrounding XRP's classification as a security or not. The recent court ruling shed light on this matter, stating that XRP sold on the secondary market does not qualify as a security.

Blockchain.com has informed its users that XRP is once again available in their cryptocurrency wallets. This reintroduction comes after the Federal Court in New York clarified XRP's status, stating that it could be considered a security only during initial sales to institutional investors.

Previously, Blockchain.com had removed support for XRP due to an ongoing lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Ripple, the company behind XRP. The regulator continues to assert that XRP is an unregistered security.

Surprisingly, the reinstatement of XRP on Blockchain.com did not significantly affect the coin's price. Despite recent rallies in the cryptocurrency market, the price of XRP has remained relatively stable. Over the past week, the coin has shown minimal price fluctuations and is currently trading at around $0.6020.

Blockchain.com is not the only platform to reconsider its stance on XRP. In July, the American division of the largest cryptocurrency exchange, Binance, also resumed trading XRP. Later, the Gemini trading platform followed suit. This indicates a growing trend among exchanges to reintroduce XRP following legal clarity.