As the legal battle between Ripple and the SEC continues, legal expert John Deaton shared insights on potential directions this high-stakes litigation might take, especially considering recent events.
SEC's Potential Lack of Grounds for Appeal
On the Good Morning Crypto Show, John Deaton suggested that the SEC might not have substantial reasons to appeal the case. Despite possible disappointment from initial rulings, the appeal might not succeed due to prior judicial decisions, particularly Judge Torres' ruling.
Prospects in Higher Courts
Deaton also mentioned that if the case escalated to the Second Circuit Court, the court would probably support Judge Torres' decision in Ripple's favor. However, an unexpected victory for the SEC could push the matter to the Supreme Court, potentially leading to further legal wrangling and delays.
Optimistic Scenario for Ripple Investors
There’s a positive scenario for Ripple’s supporters. Deaton pointed out that the current acting director of the SEC, alongside commissioner Paul Atkins, who has criticized the SEC’s approach, might influence the decision to dismiss the case. With the majority of commissioners possibly favoring dropping the charges, it could be a significant legal victory for Ripple, acknowledging XRP’s legitimate market role akin to other major cryptocurrencies.
XRP is currently priced at $3.13 USD, reflecting a 3.58% increase over the past 24 hours. Its market capitalization is approximately $180.38 billion USD, with a circulating supply of 57.56 billion XRP out of a total supply of 99.98 billion XRP.
