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The entire XRP community is currently celebrating Ripple’s victory in the ongoing case with the SEC. After a lengthy legal battle spanning over two and a half years, the judge’s decision revealed that only a portion of Ripple’s XRP sales were deemed to be illegal securities offerings.
Attorney John Deaton took to his Twitter handle to celebrate the news. However, he said that there might be another winner.
The only other winner than the token XRP and Ripple is Coinbase! @iampaulgrewal XRP sold on exchanges is NOT the sale of securities. Can I be at meeting on whether to relist XRP? Good day for crypto and all Alts.
— John E Deaton (@JohnEDeaton1) July 13, 2023
He wrote, “The only other winner than the token XRP and Ripple is Coinbase! @iampaulgrewal XRP sold on exchanges is NOT the sale of securities. Can I be at meeting on whether to relist XRP? Good day for crypto and all Alts.”
Coinbase, the largest exchange in America, made the decision to delist several cryptocurrencies, including Ripple’s XRP. XRP, which was the seventh largest digital asset by market capitalization, was among the cryptocurrencies that Coinbase announced would no longer be supported on its wallet app starting from January 23.
The delisted cryptocurrencies included Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple (XRP), and Stellar (XLM).
Deaton further noted, “This is great news for all who have fought for this entire space, even those who believe Ripple did wrong. The thing I got right most about this case is that at the beginning I said Judge Torres was a great judge to draw. Great day!”
According to Adam Cochran, a managing partner at Cinneamhain Ventures, the final judgment is mostly in favor of XRP. He believes that the programmatic sale of XRP does not meet the requirements to be classified as a security under the Howey test. Cochran sees this as a significant win for XRP and suggests that if XRP is not considered a security, the same logic could apply to Bitcoin and Ethereum, implying they are not securities either.