XRP Ruling Brings Hope for Relisting on US Exchanges Especially Coinbase
Summary: The US SEC's ruling in favor of Ripple and XRP investors has led to a 37% increase in XRP's value. The ruling that XRP tokens don't represent investment contracts has sparked a demand for relisting XRP on US-based exchanges like Coinbase. Deaton believes Coinbase is the clear victor, as the XRP previously sold on the exchange was not a securities sale event.
After the ruling in favor of Ripple and XRP investors, many people took to Twitter to express their gratitude and congrats to John Deaton, the lawyer who defended over 75,000 XRP token holders in the XRP Vs SEC action.
On Thursday, Judge Analisa Torres issued what may be the most consequential ruling in the crypto market’s development to date: she ruled that XRP is not a security. Because of this, XRP gained as much as 30% of its value in a couple of minutes on Thursday.
Relisting on Coinbase
Meanwhile, the unambiguous finding that XRP tokens don’t represent investment contracts has brought the long-standing demand for relisting of XRP on US-based exchanges like Coinbase back to the forefront.
Coinbase Clear Winner
The US SEC’s action against the US-based exchange brought the demand back into the spotlight. Deaton, though, sees Coinbase as a clear victor after Judge Torres’ recent Summary Judgment.
Deaton said that because the XRP that was previously sold on Coinbase was not a securities sale event, Coinbase may be the only other winner outside the XRP coin and Ripple. So, he said, maybe it’s time to bring XRP back on the exchange.
Due to the US SEC’s lawsuit filed against Ripple in December 2020, the exchange delisted the coin in early 2021. Following Coinbase’s lead, several US-based exchanges also delisted the cryptocurrency, thus shutting off trading for the token in the country.
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