Amidst all of the authorized developments within the XRP Vs US SEC lawsuit lately, the XRP price fell again to the place it was previous to the historic Summary Judgment by Analisa Torres in July 2023. John Deaton, the lawyer behind the 1000’s of XRP token holders within the Ripple lawsuit in opposition to the U.S. Securities and Exchange Commission (SEC), questioned if the corporate would have been in a significantly better place if not for the lawsuit filed in 2020. He defined that the lawsuit positively had a unfavorable influence on XRP and improvement associated to the XRPLedger.
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Coinbase Would Have Acquired Stake In Ripple?
Attorney Deaton blamed the US SEC lawsuit for the slowdown in progress of Ripple tasks. If not for the lawsuit, the corporate would have been in such a place that it might have been acquired by crypto alternate Coinbase, within the context of its buying stake in Circle, the corporate behind the stablecoin USDC, he questioned.
“What could have happened regarding adoption of XRP during the last 3 years, if the lawsuit was never filed? Would Coinbase today be announcing it acquired a stake in Ripple, instead of Circle?”
Impact On XRP Price
The lawsuit had additionally undoubtedly affected the token worth, which regardless of the heavy headwinds stood robust because of the assist from neighborhood. The lawyer had additionally reminded that Coinbase was closely selling XRP earlier than the SEC filed lawsuit in December 2020, after which many different crypto exchanges delisted the token for buying and selling. He added that it isn’t usually acknowledged at the moment about “How a lot Coinbase promoted XRP earlier than the lawsuit. Deaton added that he had himself doubled down on his XRP funding after Coinbase listed the token and promoted its utility.
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