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XRP was a project that was under development alongside Bitcoin. However, the cryptocurrency project crashed when SEC launched a lawsuit against it in 2019. All major cryptocurrency exchanges delisted XRP following the lawsuit to avoid getting caught up in legal scrutiny by SEC.
However, it seems that the tides are turning for Ripple Labs as the firm is thought to inch closer to getting a pass from the court. Recently, attorney John E. Deaton has claimed to win regulatory clearance for LBRY for secondary market sales.
XRP Community Wants Coinbase to Relist XRP
The relist XRP hashtag on social media has been trending for some time now. Deaton, who has also been connected to the Ripple Labs case, has been touted as the champion by the XRP community members. He has managed to gain some ground against SEC for a popular cryptocurrency publication LBRY.
The victory has been recorded by some of the top crypto media platforms, such as Bitcoinist. The article highlighted the participation of Deaton with names like tech journalist Naomi Brockwell in the debate about LBRY and SEC case defense.
During this discussion, he interjected that any sales in secondary markets, such as crypto exchanges, cannot corroborate the legal pretense of illegal securities.
It is worth noting that the idea of getting XRP relisted on Coinbase has been insinuated by LBRY. The official Twitter account of the crypto publication tweeted that Coinbase should relist XRP as the biggest cryptocurrency exchange in the USA.
The firm also mentioned that as per the outcome of LBRY vs. SEC, the legal pretense had been established that crypto trading on secondary markets could not be recounted as security dealings.
The call on Twitter has stirred a storm in favor of the suggestion. However, Coinbase has yet to issue its official stance on the matter. It is worth noting that the publicly traded crypto firm had joined Ripple Labs as amicus.
The firm has been looking to rekindle the interest of investors that have been affected on account of the ongoing crypto winter followed by FTX bankruptcy.
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