Cryptocurrency exchange Coinbase has resumed trading of XRP in New York after suspending it in 2021. Paul Grewal, Coinbase’s chief legal officer, announced on social media that XRP is now available for trading in the state. “We heard you and worked in strong partnerships with the state,” Grewal informed the community.

Coinbase had initially suspended XRP trading in January 2021 following the SEC’s lawsuit against Ripple. The announcement marks a significant step for Coinbase and its users in New York.

XRP trading on Coinbase is available again in NY. We heard you and put in the work in strong partnership with the State. And now the word can be put out— we are back up.

The digital asset industry in the U.S. has faced unclear regulations over the past several years. The U.S. Securities and Exchange Commission (SEC) has frequently established regulations through enforcement actions. Ripple, a notable company in the cross-border payment sector, has been involved in a years-long legal conflict with the SEC. However, recent developments suggest a positive turn for Ripple and its native asset, XRP.

XRP experienced a price spike around the time of Grewal’s announcement but has since corrected to just under $0.53. According to market data, XRP’s price is currently down 1.3%, although its trading volume has increased by 31%, reaching over $1.7 billion in the past 24 hours.

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