Pro-Ripple (XRP) attorney John Deaton has said that Coinbase or Ripple will not list the altcoin project until it gains more regulatory clarity in the US. In a May 5 Twitter message, Deaton explained that the Court’s decision will greatly influence the decisions of these crypto firms.
Community supports Ripple
John Deaton states that the amicus brief of XRP holders demonstrates the level of public interest the case has generated. In addition, Deaton adds:
Our Amicus brief informed the Judge. 75,000 XRP holders from the US and 143 countries worldwide joined in to challenge the SEC’s alleged protection. We submitted over 3,500 affidavits from investors, users and developers.
Ripple and Coinbase lawyers meet
Deaton’s comments came in light of speculation that Coinbase may relist XRP shortly after a meeting between lawyers of both firms. On May 3, Coinbase Chief Legal Officer Paul Grewal tweeted about his meeting with Ripple General Counsel Stuart Alderoty. He said that they should meet more often in this context.
Several community members suggested that the meeting meant that Coinbase would soon relist XRP. The US-based exchange delisted the crypto asset in 2020 after a lawsuit filed by the SEC. Since then, Coinbase has engaged in various legal battles with the SEC over its oversight of the crypto industry. The firm has taken legal action against the Commission. He also gave a definitive response to a Wells Notice he received.
Australian lawyer Bill Morgan also suggested that there may be a meeting between the lawyers of the companies. Because they have a common enemy like the US SEC! According to him, Coinbase may seek Ripple’s help in its fight against the regulator. Morgan added that Ripple cannot wait for Coinbase to relist XRP, adding that Ripple does not use tokens in its liquidity center. Meanwhile, Ripple CEO Brad Garlinghouse commended the XRP community for their strong support for the company since its case with the SEC began.
XRP price performance
As you follow on Kriptokoin.com, the Court has not yet decided on the legal battle between the SEC and Ripple. However, XRP continues its struggle. The cryptocurrency has seen a slight sell-off in the past seven days, falling 4.2% to $0.4592. However, it has increased by more than 24% in the previous 60 days.
Ripple XRP price performanceMeanwhile, some legal experts had previously predicted that the Court would decide by the end of the first quarter of 2023. However, Ripple said that it expects the Court to issue its summary judgment before the end of the year.
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