"If it wasn't for the SEC, XRP's life today would be safer, right?"
The price of the cryptocurrency Ripple (XRP) appears to have slipped back from its highs amid legal developments in the lawsuit between XRP and the Securities and Exchange Commission (SEC).
John Deaton, the attorney behind the thousands of XRP holders in the XRP lawsuit against the SEC wonders if the blockchain payments firm would be in a better position if not for the lawsuit being filed in 2020.
This is because the lawsuit has not only had a negative impact on the development of the digital asset but also the XRP Ledger (XRPL).
In addition to blaming the SEC for the XRP project's difficulty in growing, Deaton also said that Coinbase would probably have bought XRP's stake over Circle had the firm not been sued by the SEC.
Before the SEC filed the lawsuit in December 2020, Deaton said that Coinbase heavily promoted XRP but shortly after being hit with the lawsuit, many other crypto exchanges delisted the token for trading.
He also revealed that he doubled his investment in XRP after Coinbase listed the digital asset and promoted its utility.
There is no denying that the price of XRP is currently in an uncertain state following many obstacles, but it should be known that its position remains strong through the support of its community.
As of this writing, XRP price is up 0.25% at $0.52 in the last 24 hours with a market cap of $27 billion but still recorded a 14% decline over the last week.
