XRP News: Words of appreciation and congratulations poured in for John Deaton, the lawyer who represented over 75,000 XRP token holders in the XRP Vs SEC lawsuit, after winning in favor of Ripple and XRP holders.
Ripple closes in and wins XRP lawsuit
On Thursday, Judge Analisa Torres delivered what may be the most significant verdict in the evolutionary history of the crypto market, declaring that XRP is not a security. As a result, XRP price soured by as much as 30% in just minutes on Thursday.
Also Read: Crypto Market Bullish On XRP Lawsuit Ruling, Altcoin Rally Imminent?
Meanwhile, the longstanding demand for XRP to be relisted on US exchanges like Coinbase is now back in the spotlight, thanks to the clear statement that XRP tokens do not constitute investment contracts. The question had recently come up again after the recent lawsuit against the US stock market by the US SEC. However, Deaton believes that Coinbase itself will emerge victorious with Judge Torres’ final Summary Judgment.
“Coinbase Only Other Winner in XRP Lawsuit”
Deaton explained that Coinbase could likely be the only winner other than the XRP token and Ripple since the XRP previously sold on the platform was not a securities sale event. Hence, him suggested that it was time to offer XRP on the platform again. The exchange delisted the token in early 2021 due to the December 2020 lawsuit against Ripple by the US SEC. Other US-based exchanges also followed Coinbase in delisting the cryptocurrency, in what was a near closing of doors for the token in the US.
“The only winner other than the token XRP and Ripple is Coinbase! XRP sold on exchanges is NOT the sale of securities.”
Also Read: Alex Mashinsky Arrested as US SEC, DOJ, CFTC and FTC Filed Lawsuits Against Celsius Network
Anvesh reports important crypto updates around regulations, lawsuits and trading trends. Published about 1,000 articles and counted on crypto and web 3.0. He is currently based in Hyderabad, India. Contact him at anvesh@coingape.com or twitter.com/BitcoinReddy
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.
This post Coinbase also a winner with Ripple Ruling
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