- Armstrong’s subsequent remarks have rekindled suspicions among the XRP Army.
- The SEC threatened to prosecute the publicly listed business for its unreleased Lend product.
Coinbase CEO Brian Armstrong has backed Ripple in its legal fight with the SEC. However, Armstrong’s subsequent remarks have rekindled suspicions among the XRP Army that the top crypto exchange may soon reinstate XRP trading.
Armstrong tweeted on October 26 that the current struggle between Ripple and the SEC appeared to be “going better than expected”. According to the CEO, attacking the crypto industry and thereby damaging customers is politically unpopular and is something the regulator has realized.
Regulators have recently targeted Coinbase. In September, the SEC threatened to prosecute the publicly listed business for its unreleased Lend product. After accusing the SEC of acting unfairly and creating an unfair market, CEO Armstrong tweeted that several crypto firms had sold identical products for years.
Despite the SEC’s pressure, Coinbase has said that it would battle the SEC in Public Square. It seems Coinbase and its CEO are planning a relisting of XRP, pending an SEC settlement. To quote Mark Twain, news of XRP’s demise seem to be overblown. In the SEC’s case, death by a thousand papercuts still hangs in the balance.
XRP Army’s Support
The XRP community has informed Coinbase that the XRP Lawsuit may follow. People are pushing to Relist XRP on Coinbase if the trading platform does not want to face the dishonest SEC alone. Recently there was a tweet from a popular analyst Watcher.guru who tweeted:
“Coinbase needs to relist $XRP !!!”
In the midst of the SEC fight, this movement is being followed with a lot of support for XRP. Ensued by a formidable regulator, XRP has held up well. Indeed, a billionaire analyst recently noted that XRP’s value had almost quadrupled since the SEC filed suit.
The relisting has not been officially announced by Coinbase, and their website continues to have difficulties with the XRP listing.
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