Coinbase, the leading cryptocurrency exchange in the US, has taken a significant step by resuming XRP trading in New York despite the ongoing legal battle between the SEC and Ripple. After being unavailable in New York due to state regulations, XRP trading is now back on Coinbase's platform in the state.

This move comes after efforts in collaboration with New York regulators. Previously, many exchanges, including Coinbase, had halted XRP trading following allegations by the SEC against Ripple. However, a court ruling in July 2023 clarified that XRP is not a security, leading to its relisting on various exchanges.

Despite regulatory challenges in different jurisdictions, including New York, this decision by Coinbase could fuel optimism among investors. The outcome of the Ripple vs. SEC lawsuit, nearing its conclusion, will likely influence XRP's future. Currently trading at around $0.53, XRP's potential breakout to $1 hinges on regulatory clarity and market sentiment.

If the lawsuit results favorably for Ripple, it could have broader implications for both XRP and the cryptocurrency market, potentially driving XRP closer to its ambitious goal of transforming cross-border payments.