Bill Morgan, a pro-XRP lawyer took to his Twitter handle and explained via a series of tweets why it was difficult for Coinbase, the largest cryptocurrency exchange to relist XRP. Coinbase’s decision not to list XRP revolved around the uncertainty caused by the legal case against Ripple made it difficult for Coinbase to list the cryptocurrency.
Morgan said that the people who defended Coinbase’s decision to not list XRP made a distinction between the coins that Coinbase lists and XRP. They argued that the uncertainty caused by the legal case against Ripple regarding the status of XRP made it difficult for Coinbase to list the cryptocurrency.
He also spoke about diversifying income and offering products that can be offered without XRP is definitely a good strategy for Ripple to consider in the event that they lose the case and are injuncted from dealing with XRP in the US. This would allow Ripple to continue doing business in the US. The case is ongoing, and there is still uncertainty regarding the regulatory status of XRP.
Morgan also hinted that it is possible that the current commercial arrangement for the Liquidity Hub (LH) is a manifestation of Brad Garlinghouse’s statement that Ripple is acting as if it has already lost the case. By offering the LH without XRP, Ripple is hedging its bets and preparing for the possibility that XRP may be injuncted in the US.
If Ripple is able to successfully defend against the SEC’s allegations then it’s certainly possible that XRP could be added to the LH at a later time. In December 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, alleging that the company had conducted an unregistered securities offering by selling XRP tokens.
