<p>On July 13, an important preliminary ruling was made in the <a href="https://en.coin-turk.com/crypto-market-recovers-bitcoin-soars-and-altcoins-choose-directions/" rel="noopener noreferrer nofollow">Ripple</a> vs SEC case, resulting in a major loss for the SEC. The court ruled that XRP is not a security, leading to an incredible surge in its value. XRP has significantly impacted the cryptocurrency market and received numerous listing announcements. <a href="https://en.coin-turk.com/us-regulatory-shake-up-in-crypto-sector-impact-and-response-from-binance-and-coinbase/" rel="noopener noreferrer nofollow">Coinbase</a>, a leading cryptocurrency exchange, was among those to list XRP. However, this situation seems to have had a negative impact on Coinbase.</p><h2 id="header-0">COIN Shares Soared and Then Plummeted</h2><p>Following an incredible surge on Friday, Coinbase shares experienced a significant drop. Nevertheless, various financial institutions continue to raise the general price target for the exchange&#39;s stock. According to TradingView data, COIN closed the week at $103.50, representing a 3.3% decrease. Despite this, Coinbase, which has seen an increase in its stock price since the beginning of the year, experienced an astonishing 20% surge on Thursday.</p><p>Compared to the overall rise of <a href="https://en.coin-turk.com/prominent-crypto-analyst-forecasts-a-noteworthy-shift-in-bitcoins-trajectory/" rel="noopener noreferrer nofollow">Bitcoin</a>, it appears that Coinbase&#39;s shares have not achieved a similar increase or sustainability.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/bee65e49ac5047afa69a7b5331064bcf.png" /></p><p>WeBush, a private investment firm, announced in a statement and report that it has raised its stock price target for Coinbase to $110. The revision of the target after such a sharp decline presents a contradiction and uncertainty. Despite the volatile nature of COIN&#39;s performance since the beginning of the year, financial experts continue to provide positive targets for the year-end.</p><h2 id="header-1">Was XRP Good News for COIN?</h2><p>Private bank Needbush, on the other hand, raised its price target from $70 to $120. This could be due to the significant court ruling and the audacity to relist XRP. This indicates that Coinbase is currently very confident and trusts the possibility of a precedent-setting decision.</p><p>Coinbase&#39;s overall situation is closely parallel to the cryptocurrency sector. As the cryptocurrency sector performs well, Coinbase shares will also thrive. This will also hold true in the event of a downturn, potentially causing COIN&#39;s price to fall below all targets.</p>

Ripple’s Victory Hurt Coinbase the Most!

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