- Pro-XRP attorney John Deaton says there is a 25% likelihood of an outright win for the payment remittance firm against the SEC.
- Deaton believes Ripple has a 50% chance of victory by way of a “splitting the baby” ruling.
- Deaton believes Judge Torres will likely announce a verdict in the SEC vs. Ripple case by September 30.
Ripple has a 25% chance of winning its legal battle against the US Securities & Exchange Commission (SEC), according to pro-XRP attorney John Deaton. Over the weekend, Deaton shared his opinion on Ripple’s likelihood of both an outright win and a partial victory.
Ripple’s win could positively influence XRPLedger’s native token XRP and likely promote a relisting of the altcoin across top cryptocurrency exchange platforms.
Pro-XRP attorney believes Ripple has favorable odds of victory against the SEC
John Deaton, the founder of CryptoLaw, is a pro-Ripple attorney. In a June 3 episode of The Good Morning Crypto podcast, Deaton commented on the likelihood of Ripple’s win against the SEC.
In December 2020, the SEC filed a lawsuit against Ripple, alleging the sale of $1.3 billion worth of XRP tokens in an unregistered securities offering. Since then, the XRP holder community has been watching the lawsuit closely for signs of Ripple’s win, anticipating a positive impact on the altcoin’s price.
Deaton places Ripple’s odds of an outright win at 25% and a partial victory or “splitting the baby” ruling at 50%. The pro-XRP attorney informed the community that the US SEC has a “less than 3%” chance of an outright win against payment remittance firm Ripple.
A “splitting the baby” ruling would imply that Judge Torres potentially rules that XRP was offered as an unregistered security before 2018. It is likely that XRP transitions from a security to a commodity once it is sufficiently decentralized, based on the conclusions drawn from the emails of SEC former director of the Division of Corporate Finance William Hinman.
SEC vs. Ripple verdict will most likely be announced by September 30
Deaton told XRP community holders that Judge Analisa Torres, who is presiding over the SEC vs. Ripple case, is likely to announce the verdict by September 30 of this year. The pro-XRP attorney argues that a soft deadline of six months is offered to district judges and the list details of all summary judgements pending for longer than six months are filed to Congress.
The list gets published on the last day of March and September. Deaton, therefore, expects a ruling in the SEC vs. Ripple case by September 30 of this year.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.