Ripple’s XRP is a Buy at Current Prices, Says John E. Deaton
March 27 2023 - 12:00PM
NEWSBTC
The SEC vs. Ripple case is drawing to its end, sparking diverse
predictions and speculations. Recall that the case has dragged on
since 2020, with the commission seeking to categorize XRP under
Securities. After nearly three years of rigorous deliberations,
arguments, and disagreements, the court is moving closer to a final
ruling. Many people air their views on how XRP will react after the
ruling. One such individual is Attorney John E. Deaton, who tweeted
that XRP’s risk-to-reward is attractive. XRP Has An
Attractive Risk-to-Reward Potential, Deaton Deaton founded
CryptoLaw, launched in 2021, to provide news, analysis, and
information on critical US regulations for digital asset holders
and the lawyer is currently representing Ripple XRP holders.
Related Reading: Polygon (MATIC) Down By 7% Amidst Massive Whale
Activity According to his tweet, the court ruling may not affect
the XRP price as much as many expect. The lawyer stated that if the
US SEC wins the case, Ripple will appeal. But if Ripple wins, the
commission will stop categorizing it under securities. The
lawyer also stated that the court ruling might be out soon.
Deaton’s Twitter post got some responses as people pondered on what
the outcome will be. One of the responses warned the lawyer to be
careful, or people would think he got money from XRP or Ripple Labs
to share the post. In response, Deaton stated that many people
share their opinions even when the truth is glaring. Another
user BlockChainTrucker concurred with what Deaton said. In his
words, the risk/reward is valid, but the winning or settlement may
not lead to the upside many expect. In response to Deaton’s
post, a Twitter user, Vincent Van Code, stated that no court could
rule XRP as a security. The user believes the worst that could
happen is to see the coin delisted from all exchanges in the US and
driven out of the country. A Brief On SEC’s Crackdown On
Ripple The United States Securities and Exchange Commission
filed a case against Ripple and two of its executives in December
2020. The commission argued that XRP is a security and its founders
carried out an illegal coin offering raising more than $1.3 billion
without due registration. Related Reading: Polygon (MATIC) At Risk
Of Dropping To $1 Despite Mercedes Benz Deepening Partnership
Following the case filing, the commission forced all the US-based
crypto exchanges to delist XRP from their marketplaces. As a
result, XRP’s price plummeted, leading to billions of dollars in
losses for its investors. As the court ruling draws closer, the XRP
community’s anticipation grows. As of today, the coin price is
$0.4741, depicting a 5.85% increase in 24 hours. While other coins
have lost their weekly gains today, XRP is holding on and
increasing daily. Featured image from Pexels and chart from
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