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Amidst all of the authorized developments within the XRP Vs US SEC lawsuit just 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 legal professional behind the hundreds of XRP token holders within the Ripple lawsuit towards 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 undoubtedly had a damaging impression on XRP and growth 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 could have been acquired by crypto change 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 sturdy due to the assist from group. The legal professional 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’s not typically said at present 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.

Also Read: BTC Price Spreads Fear At $26k, Is This The Start Of The Bull Run?

Anvesh studies main crypto updates round regulation, lawsuits and buying and selling traits. Published round 1,000 articles and relying on crypto and net 3.0. He is at present based mostly in Hyderabad, India. Reach out to him at anvesh@coingape.com or twitter.com/BitcoinReddy

The offered content material could embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any accountability in your private monetary loss.