Coinspeaker
Banking Giant Barclays Explains How XRP Ruling Will Be Positive for Coinbase
On Monday, July 17, British banking giant Barclays said in a research report that the recent XRP ruling by the US Southern District Court shall be “incrementally positive” for crypto exchange Coinbase.
“We view the ruling as incrementally positive for Coinbase, given the interpretation that in some cases a token may not be a security. This may also provide incremental clarity for future token issuances,” noted Barclays.
However, Coinbase has also retained the underweight rating of the Coinbase (COIN) stock with a target price of $70. On July 13, Barclays lowered the rating for the Coinbase stock from equal weight to underweight. As of Monday’s closing, the COIN stock has been trading at $105 levels.
The Coinbase (NASDAQ: COIN) stock has been the talk of the town with a staggering 142% price surge over the last five weeks. Also, the massive rally in the COIN stock price came after financia
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