“The Ripple case seems to be going better than expected. Meanwhile, the SEC is realizing that attacking crypto is politically unpopular (because it harms consumers).”
When SEC first filed the lawsuit against Ripple in December, everyone proclaimed it an end of the road for the XRP token. This was mainly because it was for the first time that the SEC had also accused the founders of the project in the security lawsuit. However, as the case progressed and SEC started to go after several crypto firms claiming security law violations, people realized SEC’s pure vendetta and started siding with Ripple.
Coinbase is also one of the victims of the SEC vendetta as the chief regulatory body forced the largest public crypto exchange in the US to drop plans for an unreleased USDC-pegged lending product despite the crypto exchange trying to communicate with the agency for six months.
XRP Community Wants Coinbase to Relist XRP
Ripple continues to forge new partnerships and expand its remittance business outside the US, thus the lawsuit didn’t hamper Ripple’s progress as more than 90% of its businesses are located outside the US. However, the native token XRP took the biggest hit from the lawsuit as the price slumped in the wake of mass delisting across the US-based exchanges. Thus, when Armstrong showed his support for Ripple, the XRP community demanded relisting.
And as a member of the #XRPcommunity I wish you would stand by us and #relistXRP .
— CryptoBull (@CryptoBull2020) October 26, 2021
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