Ripple defense lawyer John E Deaton is confident that the presiding judge will soon be announcing her ruling regarding whether the crypto firm broke the law by selling unregistered securities. The imminent ruling is expected to decide the fate of XRP.
Deaton, who is representing XRP investors in Ripple’s ongoing courtroom dispute with the U.S. Securities and Exchange Commission, has suggested that the cross-border payments token could see a considerable price surge if the San Francisco-headquartered company prevails in court.
XRP Lawsuit: Approaching Judgment Day
The founder of legal news outlet CryptoLaw, John Deaton, is positive the spat between Ripple and the SEC is coming to an end soon.
In a March 27 Twitter post, Deaton opined that the judge’s decision is coming within the next few weeks or even as early as this week. This comes after Ripple filed a Letter Notice of Supplemental Authority to further bolster their fair notice defense. The said notice drew on the legal brawl between Voyager and the SEC, in which the judge overseeing the case, Michael Wiles, denied the regulator’s objections to hinder the sale of the bankrupt crypto lender to Binance.U.S.
In Deaton’s opinion, XRP possesses the “most attractive risk/reward ratio”, and its price could skyrocket if the judge rules in Ripple’s favor. This means SEC’s claims that Ripple sold XRP as an unregistered security to gullible investors will have fallen flat.
Meanwhile, if the SEC wins the lawsuit, the U.S. lawyer believes Ripple will appeal the decision, thus maintaining the status quo.
XRP is trading hands at $0.52 at publication time, according to CoinGecko data. The token blew up 19.2% over the last seven days, while bitcoin has posted losses of 4.5% during the same timeframe.
Despite the obstacles currently affecting the cryptocurrency markets, the XRP Ledger continues to grow significantly. Total accounts created on XRP are nearly hitting 5 million — a sign of its growing adoption and use cases. While Ripple continues to onboard new users to the XRP ledger, any positive or negative developments in the SEC case are bound to have a marked impact on the XRP price.
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