Pro-Ripple attorney John Deaton has expressed his confidence in Ripple and the XRP coin in a recent tweet. Deaton, who represents thousands of XRP holders, believes that the highly anticipated legal ruling in the case between Ripple and the US Securities and Exchange Commission (SEC) could be released soon.
According to Deaton, XRP has one of the most attractive risk/reward ratios among digital currencies. He believes that if the SEC wins the case, XRP may slump from its current price support level of $0.45. However, if Ripple wins the lawsuit or makes an appeal, the price of XRP could soar. Deaton tweeted, “XRP has the most attractive risk/reward ratio IMO. The Judge’s ruling is coming down w/in the next few weeks (maybe this week). If the SEC wins, what’s the downside from .45? Ripple appeals and we get the status quo. Ripple wins and its made clear XRP isn’t a security? Upside?”
It is highly speculative that XRP could experience a significant increase in price once the Ripple vs SEC lawsuit is resolved. There are two schools of thought regarding this expectation. The first is predicated on Ripple winning the lawsuit, which could lead to a surge in demand for XRP as traders sitting on the fence may possibly FOMO in and accumulate the digital currency. The second school of thought is that XRP will gain stability even if Ripple loses the lawsuit, considering its growing business in the Asia Pacific region.
XRP is not just one of the oldest digital currencies in the blockchain ecosystem; it is also highly promising as a payment token. It reached an all-time high of $3.8419 in January 2018. However, its current price level is more than 87% below this ATH, leading to speculations on whether or not this level can be retested soon.
Many XRP supporters are optimistic that the price of XRP could increase significantly should the lawsuit between Ripple and SEC be resolved in Ripple’s favor. Besides the bullish prospects for Ripple, the company is also making efforts to boost its smart contract capabilities on the XRPLedger protocol, which could fuel the demand and adoption of the XRP coin over time.
It is important to note that Crypto News Flash does not endorse and is not responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
