The entire XRP community is currently celebrating Ripple’s victory in its ongoing case with the SEC. After a lengthy legal battle of two and a half years, the judge’s ruling revealed that only a portion of Ripple’s XRP sales were deemed illegal securities offerings.
Attorney John Deaton celebrated the news on his Twitter account. However, he suggested there could be another winner.
He wrote: "Besides the token XRP and Ripple, the only winner is Coinbase! XRP sold on the exchange is not the sale of a security. Can I attend the meeting on whether to relist XRP? Good day for crypto and all altcoins."
Coinbase, the largest exchange in the United States, has decided to delist a number of cryptocurrencies, including Ripple’s XRP. XRP is the seventh-largest digital asset by market cap, and Coinbase announced that starting January 23, its wallet app will no longer support XRP.
The delisted cryptocurrencies include Bitcoin Cash (BCH), Ethereum Classic (ETC), Ripple (XRP) and Stellar Lumens (XLM).
Deaton further noted: “This is great news for everyone fighting for this entire space, even those who think Ripple did something wrong. The most correct thing I can say about this case is that I said at the beginning that Judge Torres was an excellent judge. Good day!”
Adam Cochran, managing partner of Cinneamhain Ventures, said the final verdict was mostly in favor of XRP. He believes that the programmatic sales of XRP do not meet the requirements to be classified as securities under the Howey test. Cochran believes this is a major victory for XRP and said that if XRP is not considered a security, then the same logic applies to Bitcoin and Ethereum, which means they are not securities either.