Coinbase To Relist XRP Immediately After Ripple Win?

If Ripple wins against the US Securities and Exchange Commission (SEC) in its legal battle, a relisting of the XRP token on the largest US crypto exchange Coinbase will be one of the biggest stories in the XRP community. In a new interview, Paul Grewal, Chief Legal Officer (CLO) at Coinbase has now spoken in detail about the issue and explained how the process of an XRP relisting will look like.

Coinbase had suspended trading of XRP in January 2021, shortly after the SEC filed its case, and has since kept the token suspended despite loud demands from the XRP community. In yesterday’s interview with Thinking Crypto host Tony Edward, Grewal expressed his optimism for a Ripple victory, but also emphasized that a new IPO does not depend only on the issue of a victory in the court case.

Coinbase CLO sees strong case in favor of Ripple

Grewal discussed that the US crypto exchange regularly evaluates assets for listing or delisting or pausing. He can also understand the frustration of the XRP community.

“I know that for many XRP holders it has been frustrating that they have not been able to trade their assets on Coinbase while this SEC case has been ongoing,” said Grewal, who went on to say that the SEC has not stopped Coinbase from careful. monitor the status of the trial.

Like everyone else, Grewal is anxiously awaiting a ruling, praising the work of Ripple’s lawyers in the highest terms: “I have certainly noted the fact that the defendants in this case have done a masterful job of pressuring the SEC and raising serious questions about the SEC’s whole theory.”

This also prompted Coinbase to file an amicus brief in support of several of Ripple’s defenses. Ripple CLO Stuart Alderoty and the others at the fintech company have done an “incredible job,” according to Grewal, which is why he’s confident the court’s decision will be in Ripple’s favor.

We will see that the SEC theories have serious problems. I think the briefing in this case has been excellent and we will all find out soon what the trial judges think about the arguments.

However, the Coinbase CLO also emphasized that, in his opinion, the decision by the Southern District Court of New York will only be the first step in a longer process. Grewal believes that it is very likely that both sides in the case will appeal, regardless of who wins in court.

When will XRP be relisted?

On a possible timeline for a relisting following the district court ruling, Grewal said it depends on the reasoning behind the ruling, the judge’s legal reasoning and Coinbase’s assessment of whether or not the appeals court will uphold the decision.

“So much is going to depend on the details of these legal rules. I know it’s not going to be very satisfying to anyone, but we have a responsibility as a public company to tread carefully in this area and with respect to any symbol that is subject to litigation in federal court, Grewal said.

In closing, Coinbase assured the CLO that the exchange will immediately begin the review process as soon as the ruling comes.

But I’m very eager like everybody else to see how the court rules and what I can say, as soon as we have the ruling, we will begin our process to see if we need to revise our IPO decision.

At press time, XRP price was trading at $0.37, still maintaining its downtrend in the 1-day chart.

Featured image from Forkast News, chart from TradingView.com