XRP Community Celebrates Exclusion from CoinGecko's Security List

XRP Community Celebrates Exclusion from CoinGecko’s Security List

Time Stamp: August 9, 2023 9:10 AM
Source Node: 2202819
  • CoinGecko unveiled a list of 48 tokens that are alleged as securities by the SEC.
  • Ripple’s XRP excluded from CoinGecko’s list of alleged securities.

Prominent crypto price-tracking platform CoinGecko unveiled a curated list of 48 tokens on August 8, 2023, and categorized them as the “top alleged SEC securities coins.”

Leading tokens such as Binance Coin (BNB), Cardano (ADA), Solana (SOL), and Polygon (MATIC) are among those featured. These cryptocurrencies hold a combined market capitalization of over $92.7 billion, which is almost 8% of the entire global crypto market cap.

However, Ripple Labs’ native cryptocurrency, XRP, is missing from the list. The omission is attributed to a recent partial legal victory that Ripple secured against the United States Securities and Exchange Commission (SEC). This victory was underscored by Judge Torres’ recent ruling, stated that “XRP is not to be considered a security,” effectively contradicting the stance taken by the SEC.

The decision to exclude XRP from CoinGecko’s list underlines the newfound recognition of its legitimacy within the market. Ripple Labs’ success in challenging the SEC’s position has bolstered XRP’s status, signifying a pivotal moment in the token’s journey. 

Further, David Schwartz, the Chief Technology Officer (CTO) of Ripple, enters the scene. He jokes about the list’s omissions in a playful manner.

It’s been almost four weeks since Ripple’s partial win against the SEC. That sent XRP to a new high in the $0.9 range. But the price of XRP declined by around 50% from its short-term rally.

Although, at the time of writing, XRP price had soared over 4% in the last 24 hours and traded at $0.6454. Also, the crypto holds a 24-hour trading volume of $1.3 billion and market cap of $34 billion.

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