cryptocoin.com As we mentioned earlier, the litigation between Ripple and the SEC has been going on for a long time, and many experts are making critical predictions about the case. Although many people have recently said that Ripple will triumph, for XRP lawyer John Deaton, Ripple has four options! Here are the details…
XRP Attorney John Deaton has announced 4 options for the Ripple case!
The conclusion of the court in the case between the SEC and Ripple is very close. Rumors about how the case will end continue. John Deaton, one of the biggest supporters of XRP, gave critical comments on the subject.
Only four outcomes are possible in the eyes of the lawyer. One of them is the victory of the stock market police, the Securities and Exchange Commission. This idea comes as a huge shock. The current situation makes such an option questionable, according to Deaton. The SEC failed to prove that XRP is a security, which is why. From his perspective, XRP’s non-security classification was further enhanced by Coinbase’s listing of the cryptocurrency with the consent of the SEC. Deaton also questioned the SEC’s choice to sue Ripple, arguing that if there were securities law violations, the case would be resolved through enforcement. He argued that it was absurd for the SEC to allow the defendant to continue breaking the law by selling XRP while the case was pending. He stated that they will send a warning to Ripple, demanding that it stop selling XRP.
Deaton later shared his thoughts on the outcome of the lawsuit, stating that the SEC would lose against Ripple in one of four possible outcomes. “In my view, the first likely outcome is that Ripple wins outright, which the judge said has no investment contracts and no post-mission sales obligations,” he said. Deaton alleges that Judge Analisa Torres may have ruled that Ripple broke the law when it first launched for a “determined period of time,” but that XRP is not a security in today’s secondary markets.
The third outcome is that the SEC wins outright, which, according to Deaton, seems highly unlikely. However, Deaton said, “I took it as zero, maybe I shouldn’t have taken it that low, but that’s how confident I am in that sense, this ridiculous theory of theirs.”
The fourth situation is that if no one wins, the jury will be consulted and a decision will be made. However, even though the case is far advanced, the lawyer stressed that the plaintiffs are prepared, expressing optimism that the parties will be able to reach an agreement before a summary judgment.
Ripple acknowledged that they would settle the case sooner. Their general counsel and CEO have publicly announced that they will reach an agreement today if the SEC agrees to continue future secondary market sales.
A court decision expected in a different case will align the parties. In such a case, the jury will announce its decision and present its analysis of the facts. There is a chance for that to happen, as happened when Ripple was unexpectedly defeated. Justice may decide that the cryptocurrency company violated securities laws in this scenario. This decision can be counted as a violation that will cover a certain period of time. So while many reasons appear for XRP and the SEC, investors are keeping a close eye on the case and awaiting a near-term decision.
XRP price status
While the popular altcoin project XRP has been facing SEC lawsuits for a long time, it has shown bullish momentum and gained 1.2 percent in the last week. Instantly, the popular altcoin is trading at $0.52. Its market value is $27 billion. Looking at the transaction volume in the last 24 hours, a huge level of $ 877 million welcomes us. Experts suggest that after XRP wins the case, there will be an explosion in price.
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