XRP Lawyer Seeks to Act as Amicus Curiae in Coinbase vs. SEC Lawsuit
John Deaton, known for his support of the XRP community, has once again come to the forefront. This time, he offers to represent nearly 5,000 Coinbase customers in court, actively entering a significant legal dispute between the cryptocurrency exchange Coinbase and the U.S. Securities and Exchange Commission (SEC). Cointelegraph Germany reports extensively on this case.
In a recent interview with Eleanor Terrett from Fox Business, Deaton emphasized his motivation: he wants to support ordinary people who are trying to build wealth through investments, independent of the traditional financial system. This positioning comes shortly after an injunction was filed by Coinbase, showcasing how crucial this fight for legal clarity is.
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XRP Struggles: The Flop of the Year?
Despite its large community, XRP seems to be lagging behind its expectations this year. According to an analysis by wallstreet:online, this could be the second consecutive year where XRP underperforms compared to other top cryptocurrencies like Bitcoin and Ethereum.
In addition to the ongoing legal dispute with the SEC, there are also technical factors in the market itself that could be influencing the price. Despite a general upswing in many digital currencies, it remains to be seen whether Ripple's coin can regain its footing or continues to be a disappointing investment.
XRP in a Bind: Price Tests Critical 2021 Support While SEC Lawsuit Weighs Heavily
According to reports by Krypto Magazin, XRP currently finds itself at a critical point. The digital currency is struggling to maintain important support levels from 2021 while it is simultaneously slowed down by regulatory uncertainties.
Ripple CEO Brad Garlinghouse expressed optimism about future developments despite ongoing challenges and plans further integration of their blockchain solutions with traditional financial systems worldwide—a step that could potentially initiate new movement in XRP's value once responses to current legal disputes follow.
XRP at a Crossroads: Critical Support Tested, SEC Lawsuit Continues to Pressure
Blockchain Hero also highlights (read source here) that XRP is currently testing very sensitive market points and is under significant pressure due to ongoing legal problems with the U.S. Securities and Exchange Commission (SEC).
