Pre-market Movers: XRP Price Dips as Oregon AG Revives Coinbase Case, Despite SEC Dropping Similar Claims

The legal environment for cryptocurrencies turned more volatile on Friday when the Oregon Attorney General's office announced it would revive a version of the SEC's dismissed lawsuit against Coinbase.

However, amid the gloom, market watchers are pointing to potential bullish catalysts—particularly from Asia and institutional developments—that could breathe new life into the Ripple crypto asset.

Coinbase Case Revival Stirs Regulatory Fears

The legal environment for cryptocurrencies turned more volatile on Friday when the Oregon Attorney General’s office announced it would revive a version of the S.E.C.’s dismissed lawsuit against Coinbase (NASDAQ:COIN). This move has reignited concerns that regulatory challenges may persist or even intensify, potentially spilling over into other high-profile crypto cases, including the closely watched Ripple lawsuit.

Oregon’s Attorney General is reviving legal action against Coinbase over alleged unregistered securities, despite the S.E.C dropping similar claims. Source: CryptosRus via X

Coinbase Chief Legal Officer Paul Grewal criticized the move sharply, saying, “The Oregon Attorney General is resurrecting the dead by bringing a copycat case of the S.E.C.’s enforcement action against Coinbase. This type of political jockeying is an embarrassing waste of taxpayer dollars.” He also noted that the A.G.’s office signaled it would pick up where Gary Gensler’s S.E.C left off.

The incident casts a shadow over Ripple’s legal situation as well, suggesting that even if the S.E.C Ripple lawsuit concludes in New York, similar enforcement actions could be launched in other states. Legal experts argue this raises the possibility of prolonged regulatory headwinds for XRP and the broader Ripple market.

XRP Price Performance: Recent Sell-Off and Technical Signals

The XRP price has suffered a notable correction in recent weeks, sliding from a peak of $3.40 in January to as low as $1.64. As of Friday, it hovered around $2.06—marking a four-day losing streak, down 0.23% on the day.

Ripple (XRP) was trading at around $2.08, up 1.19% in the last 24 hours at press time.

Analysts attribute the recent XRP price downturn to a broader derisking trend in global markets. While the Ripple currency price has dropped more than 40% from its highs, it remains relatively resilient compared to other altcoins, supported by strong fundamentals and institutional interest.

XRP’s chart currently shows a bearish bias, although an inverse head-and-shoulders pattern suggests a possible 27% upside to $2.78, provided the $2.00 support level holds. If that level fails, technical analysts are watching $1.75 and $1.40 as key zones where past accumulation occurred.

Ripple vs. SEC: Temporary Pause, Possible Settlement

There’s a silver lining in the Ripple lawsuit. On Wednesday, a U.S. appellate court granted a joint motion by Ripple and the S.E.C to pause appeal proceedings for 60 days. The S.E.C must now provide a status report by June 15. This development gives Ripple some much-needed breathing space and suggests that both parties are nearing a possible settlement.

Kaiko Research experts believe approval to be more probable for XRP ETFs than for other similar products for altcoins like Solana or Cardano.

A successful launch of an ETF would significantly boost Ripple’s market liquidity and attract institutional capital. Such hope is also highlighted by Ripple’s long-established history of ties with global financial institutions and ongoing negotiations with industry leaders, such as the Ripple Bank of America partnership.

Asian Markets and Historical Context Offer Hope

Despite recent setbacks, some analysts point to Asia as a potential growth driver for XRP. Historically, XRP has seen strong adoption and trading volume in Asian markets, particularly in Japan and South Korea. A favorable policy environment in these regions could counterbalance Western regulatory uncertainty.

Ripple is backing Asia’s first XRP investment fund in Japan, giving institutional investors regulated exposure without directly holding the asset. Crypto Eri ~ Carpe Diem via X

Veteran investors are also urging calm by drawing parallels to the COVID-era crash. As market analyst Abdullah Nassif pointed out, those who held XRP through the lows of 2020, when it traded at $0.11—were rewarded with over 30x returns by 2025. That historical perspective continues to fuel long-term optimism.

“XRP has weathered many storms,” noted one analyst, “and its resilience in past cycles suggests it may still have millionaire-making potential.” While there’s no guarantee history will repeat itself, the strength of the Ripple ledger and its growing global utility provide a solid foundation for future growth.

Final Thoughts

XRP’s immediate outlook remains mixed. Legal uncertainties, macroeconomic pressure, and revived regulatory threats like the Coinbase case weigh on investor sentiment. Yet, the potential resolution of the Ripple SEC lawsuit, pending ETF approvals, and strategic international momentum offer genuine reasons for optimism.

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