Prominent Attorney John Deaton is confident that Ripple XRP will emerge victorious against the Securities and Exchange Commission (SEC) in their ongoing lawsuit. Deaton, the founder and host of CryptoLaw, shared his optimism on Twitter, highlighting recent court events that have given Ripple an advantage in the case.
In a Twitter thread, Deaton referenced a breakdown of Judge Torres’ ruling process, explaining that the judge did not distinguish between different types of sales of Ripple XRP. Instead, she applied the Howey test to each type of sale chosen and defined by the SEC. Deaton expressed his belief that Judge Torres’ ruling is strong and will likely not be reversed on appeal.
Another legal expert, Bill Morgan, an Australian-based lawyer, also supported Judge Torres’ ruling. In his analysis, he emphasized that the different categories of Ripple XRP token sales had their own distinct requirements, and the judge appropriately considered each category. Morgan concluded that the judge’s reasoning was sound and expressed his sympathy for the SEC.
The positive outcome of the lawsuit is expected to have a significant impact on the entire cryptocurrency market. Cathie Wood, the CEO of Ark Invest, believes that the court ruling will set the tone for the future and could favor cryptocurrency exchanges like Coinbase. Wood expressed optimism about the ruling’s implications for exchanges in an interview with CNBC.
Related Post
In addition to legal experts and market analysts, XRP holders are also bullish about the outcome of the lawsuit. Many anticipate a bullish rally for XRP, with some predicting that the price could reach $10. Alex Cobb, a popular cryptocurrency YouTuber and XRP analyst, made this prediction based on the Elliott Wave Theory and historical patterns in the altcoin market. Cobb emphasized the importance of patience for XRP holders, stating that the asset rewards those who wait.
Currently, XRP is trading at $0.61, with a slight decline from its recent gains. However, the asset has managed to recover from hourly losses. Despite this volatility, XRP holders remain optimistic about the potential for a price surge.
It is important to note that Crypto News Flash, the source of this information, does not endorse or take responsibility for the content mentioned. Readers are advised to conduct their own research before making any investment decisions related to cryptocurrencies.
In conclusion, Attorney John Deaton’s confidence in Ripple’s success against the SEC, along with support from legal experts and market analysts, suggests a positive outcome for Ripple XRP in the lawsuit. The potential growth of XRP to $10, as predicted by market players, reflects the bullish sentiment surrounding the asset. However, it is crucial for investors to exercise caution and conduct their own research before making any investment decisions.
