XRP Support Added by Major Japanese Exchange, Price Reacts

In a recent tweet, Japanese cryptocurrency exchange CoinCheck announced the listing of the seventh largest digital currency XRP. Aside from that, the platform is listing five other cryptocurrencies – Ethereum (ETH), Shiba Inu (SHIB), NEM (XEM), IOST (IOST), and Enjin Coin (ENJ).

The first X post, announcing the upcoming listing of these digital assets was published by the platform on August 30. CoinCheck holds the 48th position on the CoinMarketCap list of crypto exchanges around the world.

This XRP listing comes after the major Ripple win in court, which the company’s chief executive Brad Garlinghouse praised as a victory not only for Ripple after the three years of legal battles against the SEC but also for the entire cryptocurrency industry.

At the end of the first week of August, federal judge Analisa Torres rejected the SEC’s request to make Ripple pay $2 billion in fines and penalties, which would also be a signal for other crypto companies, claiming that this would hold Ripple from violating the securities laws in the future, as well as prevent other companies in the crypto space from doing so. The SEC’s other goal was to get financial compensation for the harm caused by their lawsuit against Ripple during the case.

The judge ordered Ripple to pay only $125 million instead of the tremendous amount insisted on by the Securities and Exchange Commission.

Over the past 24 hours, XRP has seen a 3.48% decline followed by a tiny increase which added 1.2% to the asset’s price. At the time of this writing, XRP is changing hands at $0.55611 per token.

Ripple unlocks another billion XRP

Earlier this week, the blockchain juggernaut Ripple made yet another release from escrow, unlocking a tremendous billion XRP coins.

That amount of crypto amounted to $555,890,057. 800 million from it was eventually locked back in escrow as Ripple does traditionally.

The company has been making these monthly 1-billion XRP releases every month over the past seven years, each time sending 80% of the unlocked coins back into escrow. Recently, Brad Garlinghouse stated that in the future the XRP contained in the company’s escrow might be burned, i.e. locked in an unspendable wallet for good. He stated that he remains open to ideas related to this issue.