2023-3-28 19:00 |
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, DeatonDeaton 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.
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 RippleThe 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.
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 TradingView
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