Crypto Attorney Predicts Favorable Outcome for Ripple in SEC Lawsuit
Crypto attorney John Deaton has shared his insights on the ongoing lawsuit between the Securities and Exchange Commission (SEC) and Ripple, suggesting that Ripple is likely to achieve a “99.9% legal victory.” Deaton’s prediction was prompted by a tweet from Ripple’s Chief Legal Officer, Stuart Alderoty, expressing confidence in Ripple’s favorability in the lawsuit.
“The people who’ve argued that the SEC got a 50-50 victory in the @Ripple case are 💯 wrong. It was more like 90-10 in Ripple’s favor. If Ripple ends up paying $20M or less it’s a 99.9% legal victory.”
— John E Deaton (@JohnEDeaton1) November 4, 2023
Deaton emphasized that if Ripple settles for $20 million or less, it would be considered a significant win for the company, dismissing the notion of a 50/50 outcome for the SEC.
XRP Price Continues to Surge
XRP has been experiencing a notable price rally, with a 6.1% increase over the past 24 hours, bringing its value to $0.646957. According to CoinGecko data, XRP has consistently shown positive performance over the previous month. The token has gained 17.5% in seven days and 25.5% in the last two weeks. Additionally, its price has risen by 25.2% since October 6.
Hot Take: Ripple’s Legal Victory and XRP Price Surge
The ongoing SEC vs. Ripple lawsuit has sparked optimism for Ripple as crypto attorney John Deaton predicts a highly favorable outcome for the company. If Ripple settles for $20 million or less, it could be considered a significant legal victory. This positive outlook aligns with Ripple’s Chief Legal Officer’s confidence in the lawsuit’s outcome. Meanwhile, XRP continues to gain momentum, with its price surging by 6.1% in the past 24 hours. The token has demonstrated consistent growth over the previous month, recording notable increases in value. This combination of a potential legal win and a strong market performance further bolsters Ripple’s position in the cryptocurrency landscape.
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