Lawyer John Deaton stated that the lawsuit between Ripple and the SEC could be over in a short time.
Flaming about whether XRP is a security RippleAnd SEC conflict continues to shake the agenda. The case, which has been going on for nearly two years, has reached the final level. If we look at the recent developments, the Ripple side is taking the case one step ahead. This situation has already engulfed the Ripple ecosystem. Also, as the case progresses in Ripple’s favour, the XRP price is also on the rise. Cointelegraph Türkiye, directed questions about the case to Ripple supporter attorney John Deaton.
John Deaton: The Decision Can Be Made Any Time!
RippleAnd SEC The first question that comes to the minds of all investors is when the lawsuit between the two companies will be concluded. Generally ‘ next week conclusiona will meet‘, Ripple’s lawyer, John Deaton, stated that the judge of the case, Analisa Torres, could make the decision at any time.
But Deaton also stated that expectations are for this decision to be made before the end of September. Otherwise, the judge has to notify Congress that the decision has been pending for more than 6 months, according to Deaton. Another issue that Deaton emphasized was that Torres’ decision would not finalize the case. The decision may also result in the need for a jury trial.
Another question mark in mind is, SEC Whether to set a precedent after losing the case. “If Ripple wins the case, it will have a huge impact on the crypto market,” said Deaton, who also believes it will affect the SEC’s Regulation by Enforcement policy. In addition, Deaton stated that a possible Ripple win will have an incredibly positive impact on Coinbase.
Another question from Cointelegraph to Deaton:, SECIt was in the form of how the company took an approach towards cryptocurrencies. SEC Saying that ‘s stance against crypto can be politically driven, Deaton said, “Senator Elizabeth Warren is running for re-election on an anti-crypto platform and is very close to Gary Gensler. While working as a Professor at MIT, Gensler stated that 75 percent of the crypto market is commodities.
Today, he claims that every crypto asset other than Bitcoin is a security. If we were in 2015, Gensler would certainly have called Bitcoin a security. “He is running an anti-crypto agenda that has nothing to do with enforcing securities laws.”
Latest Situation in Ripple (XRP), Chart Analysis
With the developments in the case, XRP, which has been priced upwards since the beginning of 2023, currently finds buyers at $ 0.46. A few weeks ago, the court decisions in favor of XRP pushed the price up to $ 0.585. XRP, one of the most rising altcoins in the first quarter of 2023, seems to be able to test serious prices as long as it leads the case.
When we examine the weekly time frame, the resistance levels for XRP are 0.515 – 0.585 – 0.80 – 0.918 and $1.10, respectively. With the depreciation of Bitcoin or the SEC coming to the fore in the case, 0.4338, the annual opening price and the $ 0.297 level, respectively, can be followed as support for XRP.
