Oregon Revives Coinbase Case, Ripple Price Drops 1.0%

Oregon has revived the previously dismissed SEC case against Coinbase, sparking renewed concern among investors about an extended regulatory crackdown on digital currencies. This development has raised fears that it could affect Ripple’s legal standing and delay clarity in the XRP SEC case. The XRP price dipped slightly following the news, reflecting broader market unease.

This renewed regulatory challenge comes at a time of uncertainty for digital assets. The revived case has further polarized political discussions about crypto rules, especially as Oregon’s Attorney General Dan Rayfield decided to follow the SEC’s past enforcement approach. This situation suggests that the legal battle might restart in other jurisdictions, even if Ripple wins in New York. This could lead to sustained volatility and investor caution.

On April 18, Oregon’s top prosecutor reignited legal scrutiny against Coinbase, an action widely viewed as political. The Oregon case against Coinbase closely mirrors arguments seen in the XRP SEC case. The original federal filing alleged that Coinbase operated as an unregistered securities platform but was dismissed with prejudice earlier this year. Paul Grewal, Coinbase’s Chief Legal Officer, criticized the state’s action, calling it a “copycat” case that harms judicial efficiency and investor confidence.

These unexpected events create uncertainty for Ripple. Observers worry that it could face similar lawsuits in Democratic-led states even if the Ripple SEC case ends favorably. Legal experts claim this might increase the confusion surrounding XRP’s regulatory status. This could make institutional investors more cautious and the XRP price less stable.

Following the news from Oregon, the Ripple price continued its decline, falling for four sessions in a row. It closed at $2.0604 on Friday and now stands at $2.08. Investor sentiment stayed cautious, even though the price remained above key support levels. Broader market influences have also put pressure on the asset class. These include rising trade tensions and hawkish signals from the Federal Reserve.

Nevertheless, there is cautious optimism for a potential resolution to the XRP SEC case. Investors watch carefully for any indication that the SEC might drop or settle the lawsuit. A favorable decision could swiftly reverse the current bearish trend. This might pave the way for the XRP price to reach its previous high of $3.5505 again.

While legal questions surround XRP, the recent increase in Bitcoin ETF inflows adds another twist. US-based spot Bitcoin ETFs reported net inflows totaling $13.7 million last week. This indicates that institutional interest remains strong despite geopolitical and macroeconomic risks. BlackRock’s IBIT saw the highest inflows at $186.5 million, highlighting investor desire for regulated crypto access.

Ripple’s path toward similar ETF integration remains unclear but increasingly probable. If Ripple successfully navigates its legal obstacles, XRP could become a suitable candidate for institutional products. This would make XRP more credible within capital markets. Until then, XRP remains linked to the changing regulatory environment, and Ripple price changes will likely reflect shifts in legal sentiment more than market fundamentals.

The near-term outlook for XRP largely depends on legal clarity, especially in the Ripple SEC case. This is particularly true as regulatory conflicts begin to appear outside federal courts. The Oregon lawsuit has reignited discussion about actions at the state level. This highlights the fragmentation of crypto policy in the United States. This situation might slow down institutional adoption of XRP and harm any long-term bullish trajectory.

Nevertheless, broader market signals provide some hope. These include ETF inflows and reduced trade tensions. If Ripple wins in the XRP SEC case, it could set the stage for continued institutional adoption. Until then, investors remain cautious but attentive. They await a key event that might change XRP’s position in the digital asset world.