Attorney Represents Ripple Investors Against SEC
John E. Deaton, a US attorney representing Ripple investors in the lawsuit against the SEC, believes that the regulator will not succeed in its case. He criticized the SEC’s argument that it wants faster adjudication than Ripple as the “dumbest argument” he has heard. Deaton thinks the SEC’s only option is to prolong its inevitable loss by appealing court decisions.
The SEC’s Strategy
In an essay, Deaton outlined what he believes is the SEC’s strategy in the legal battle with Ripple. He stated that Ripple’s partial win in July will likely lead to a decisive victory. A US Judge ruled that Ripple’s XRP sales did not constitute investment contracts, boosting the digital asset’s price by over 70%. Despite this, the SEC appealed the ruling in September. Deaton believes even if their requests are granted, it won’t be enough for them to win.
“Should an early appeal be granted, it will take another year and a half to two years for the US Court of Appeals for the 2nd Circuit to rule on the issue… These are the desperate tactics of a regulator who lost the case.”
Impact on XRP Price
Experts predict that the outcome of the lawsuit will significantly impact XRP’s price. Crypto analyst KALEO on Twitter believes that Ripple will emerge victorious and trigger a price rally for XRP. CryptoPotato also released a video discussing XRP’s performance during the next bull market.
Hot Take: Ripple Investors Optimistic About Lawsuit Outcome
Ripple investors represented by attorney John E. Deaton are optimistic about their lawsuit against the SEC. Deaton believes that the regulator’s appeal efforts will not change the final resolution in Ripple’s favor. This confidence has led experts to predict a positive impact on the price of XRP if Ripple wins the case. As the legal battle continues, investors and crypto enthusiasts eagerly await the outcome and its potential effects on the market.
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