Crypto Attorney Predicts SEC vs. Ripple Verdict Imminent
On Twitter, legal expert John Deaton has commented on the ongoing lawsuit between Ripple and the SEC, opining that XRP, the digital currency at the heart of the case, presents a beautiful risk-to-reward ratio. Deaton’s insight adds to the mounting speculation surrounding the future of Ripple and its impact on the crypto market.
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? 🤔
— John E Deaton (@JohnEDeaton1) March 26, 2023
Ripple’s fate hangs in balance as SEC case nears verdict
As per John Deaton’s tweet, Judge Analisa Torres of the United States Southern District Court of New York is set to deliver the verdict shortly, with some speculating that it may arrive this week. According to the crypto lawyer, if the SEC emerges victorious, Ripple can challenge the ruling and seek to revert to the previous state of affairs.
It is currently unclear how the price of XRP will be affected by the verdict. Both positive and negative outcomes are possible. If the SEC wins the case, it could severely dent investor confidence in the cryptocurrency market, leading to a sharp drop in XRP’s value.
Ripple’s Favorable Outcome Could Spark major rally
Recent price movements of XRP indicate that investors are optimistic about a positive outcome for Ripple. Over the weekend, the cryptocurrency gained more than 17%, rising from $0.41 to $0.48 at the time of writing. Additionally, XRP’s daily trading volume has surged by over 30%, with traders flocking to purchase the crypto in anticipation of a favorable ruling.
As the case continues, executives at Ripple have expressed their confidence in the legal team’s defense strategy. In a recent interview with CNBC, Ripple’s President, Monica Long, conveyed her optimism regarding a favorable outcome in the case that began in December 2020. Long also noted that the verdict may be absent in the next few weeks.
