There are critical developments for the Ripple case, which marked the crypto money market. Pro-XRP attorney John Deaton says the remittance firm has a 25 percent chance of winning a decisive win against the SEC. Deaton believes there is a 50 percent chance of victory through Ripple’s “split” decision. In addition, Deaton believes that Judge Torres will announce a decision in the SEC and Ripple case by September 30. Here are the details…
There are critical developments for the Ripple case
According to pro-XRP attorney John Deaton, Ripple has a 25 percent chance of winning its legal battle against the US Securities and Exchange Commission (SEC). Ripple’s win could positively impact XRPLedger’s native token, XRP, possibly encouraging the altcoin’s re-listing on top cryptocurrency exchange platforms.
John Deaton, the founder of CryptoLaw, is a pro-Ripple lawyer. On a June 3 episode of the Good Morning Crypto podcast, Deaton commented on the possibility of Ripple winning against the SEC. In December 2020, the SEC filed a lawsuit against Ripple for the alleged sale of $1.3 billion worth of XRP tokens in an unregistered security offering. Since then, the XRP holding community has been watching the case closely for signs of Ripple’s win, expecting a positive impact on the altcoin’s price.
Deaton evaluates the probability of Ripple winning as 25 percent and a partial victory decision at 50 percent. The pro-XRP attorney informed the community that the chances of a definitive win for the US SEC against payments remittance firm Ripple are “less than 3 percent.” The “split” decision would mean Judge Torres potentially ruling that XRP was offered as an unregistered security prior to 2018.
The decision could be announced in September.
XRP is likely to move from a security to a commodity once it’s decentralized enough, according to the results from the emails of William Hinman, former director of the SEC Corporate Finance Division. Deaton told XRP community holders that Judge Analisa Torres, who presided over the Ripple case with the SEC, is likely to announce the decision by September 30 of this year. The pro-XRP attorney argues that a six-month soft deadline has been presented to district judges and that list details of all summary judgments pending more than six months have been submitted to Congress. The list is published on the last day of March and September. Therefore, Deaton expects a verdict in the SEC and Ripple case by September 30 of this year.
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