- Pro-XRP attorney John Deaton puts Ripple’s chances of an outright win against the SEC at 25%.
- Deaton sees a 50% likelihood of Ripple securing victory through a “splitting the baby” ruling.
- Judge Torres is expected to deliver the SEC vs. Ripple case verdict by September 30.
According to prominent XRP advocate and attorney John Deaton, Ripple stands a 25% chance of emerging victorious in its ongoing legal battle against the US Securities & Exchange Commission (SEC).
Deaton, the founder of CryptoLaw, recently expressed his thoughts on the likelihood of Ripple achieving an outright win or securing a partial victory.
Ripple’s Court Win Could Trigger XRP Relisting on Exchanges
A favorable outcome for Ripple could have significant implications for the native token of the XRP Ledger, XRP, and potentially lead to its relisting on major cryptocurrency exchanges.
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Deaton shared his insights on the matter during an episode of The Good Morning Crypto podcast on June 3.
Deaton assesses the likelihood of Ripple securing an outright victory at 25% and a “splitting the baby” ruling at 50%. He asserts that the chances of the SEC prevailing with an outright win are less than 3%.
By “splitting the baby,” Deaton refers to the possibility of Judge Analisa Torres ruling that XRP was indeed offered as an unregistered security before 2018.
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This outcome would suggest that once XRP achieves sufficient decentralization, it could transition from being classified as a security to a commodity.
XRP Community Anticipates Verdict by September 30
Deaton bases this argument on the insights gleaned from the emails of former SEC Division of Corporate Finance director William Hinman.
Deaton has informed the XRP community that Judge Analisa Torres, presiding over the SEC vs. Ripple is expected to announce the verdict by September 30 of this year.
He explains that district judges are typically given a soft deadline of six months, and all pending summary judgments that surpass this timeframe must be filed to Congress. These pending judgments are published on the last day of March and September.
On the Flipside
- While pro-XRP attorney John Deaton believes Ripple has a 25% chance of winning its legal battle against the SEC, legal outcomes can be unpredictable, and the ultimate verdict remains uncertain.
- The XRP community’s optimism about a positive impact on the altcoin’s price in the event of Ripple’s victory is speculative and subject to market dynamics and investor sentiment.
- The relisting of XRP on top cryptocurrency exchanges is not guaranteed even if Ripple were to win the case. Exchanges may still consider various factors and conduct their own evaluations before relisting the token.
Why This Matters
A victory for Ripple could pave the way for relisting XRP on major exchanges, potentially revitalizing its market presence and opening new opportunities for investors. The verdict’s impact extends beyond Ripple itself, highlighting the evolving regulatory landscape and providing insights into the classification of digital assets as securities or commodities.
To learn more about Ripple CEO’s confidence in an imminent victory against the SEC, read here:
Ripple CEO Confident of Victory Over SEC in Imminent Verdict
To stay updated on Ripple Labs’ recent unlocking of 1 billion XRP tokens in their monthly distribution, read here:
Ripple Labs Unlocks 1 Billion XRP Tokens in Monthly Distribution
FAQs
Ripple (specifically, its native token XRP) is embroiled in a legal battle with the US Securities and Exchange Commission (SEC).
The XRP lawsuit is still ongoing. However, attorney John Deaton, who is closely involved in the case, has indicated that he expects a verdict to be announced by September 30 this year.
XRP was sued by the SEC for allegedly conducting an unregistered securities offering. The SEC claims that Ripple sold approximately $1.3 billion worth of XRP tokens without complying with regulatory requirements.
The duration of the XRP lawsuit is uncertain. However, based on the insights provided by attorney John Deaton, a verdict is anticipated to be reached by September 30 of this year. It’s important to note that legal proceedings can sometimes take longer than expected, so the timeframe remains subject to potential changes.
