The crypto community anticipates the potential relisting of XRP on Coinbase after attorney John E. Deaton secured regulatory clarity regarding secondary market sales of cryptocurrencies. This development stems from the recent legal victory in the LBRY vs. SEC case, where the SEC confirmed that secondary market transactions (e.g., exchange trades) do not qualify as securities transactions.
Key Developments in the LBRY Case
- SEC’s Concession: The SEC acknowledged that secondary sales of cryptocurrencies like XRP are not securities transactions, setting a precedent for exchanges.
- Community Advocacy: LBRY publicly urged Coinbase to relist XRP, stating, "Under the SEC vs. LBRY standard, XRP sold by secondary holders is not a security."
- Market Reaction: Social media campaigns and tweets speculate about Coinbase’s relisting, with users highlighting the exchange’s inactive XRP trading page.
Will Coinbase Act Soon?
Coinbase voluntarily delisted XRP in 2020 due to regulatory uncertainty during the SEC’s lawsuit against Ripple. While the LBRY ruling provides clarity, Coinbase’s relisting decision hinges on:
- Risk Assessment: The exchange may await the final verdict in the Ripple case before acting.
- Regulatory Confidence: CEO Brian Armstrong’s recent retweet suggests lingering concerns about U.S. policy clarity.
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Current XRP Market Status
At press time, XRP traded at **$0.4146**, struggling to break the $0.43 resistance level.
FAQs
1. Why did Coinbase delist XRP originally?
Coinbase preemptively delisted XRP in 2020 to mitigate legal risks during the SEC’s lawsuit against Ripple, not due to an official SEC order.
2. What does the LBRY case mean for XRP?
The SEC’s admission that secondary sales aren’t securities transactions strengthens XRP’s legal standing, but Ripple’s case outcome remains pivotal.
3. When might Coinbase relist XRP?
Analysts suggest Coinbase could wait for Ripple’s lawsuit resolution, expected mid-2023, before reconsidering XRP.
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Final Note: The crypto industry continues to navigate regulatory hurdles, with the XRP relisting debate highlighting the interplay between legal precedents and exchange policies. Monitor official announcements for updates.
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