The United States Securities and Exchange Commission lawsuit against Ripple filed in December 2020 has deprived the XRP (XRP) token of nearly three years of adoption in the U.S., said pro-XRP lawyer John Deaton in a recent post on X (formerly Twitter).
Deaton’s comments came amid Coinbase’s announcement that it has acquired a minority stake in USD Coin (USDC) issuer Circle and will be working to “unlock additional utilities and grow the USDC ecosystem.” The lawyer reflected on how Ripple and XRP were on a trajectory of great adoption in cross-border payment, and if not for the SEC lawsuit, the likes of Coinbase (NASDAQ:COIN) might have shown similar interest in Ripple.