Cryptocurrency analyst Miles Deutscher has taken to Twitter to comment on the lawsuit between Ripple and the U.S. securities regulator SEC, which is expected to be resolved in early 2023, according to Ripple chief Brad Garlinghouse.
Deutscher believes that even if one does not like XRP, it is important to be on the side of the San Francisco-based crypto giant in this legal battle. Here's why.
"Anyone hoping Ripple lose is against crypto"
Deutscher explained that he is not too fond of XRP. However, in the legal argument between the two sides, he supports Ripple. He clearly believes that Ripple here represents and stands ground for the entire cryptocurrency space.
If Ripple loses to the SEC, the analyst expects manifold negative consequences for the whole crypto industry to follow.
He concluded his tweet by stating that not supporting Ripple in this particular case means being against crypto in general.
I’m not a huge $XRP fan, but for the sake of our industry I really hope they win.
— Miles Deutscher (@milesdeutscher) December 9, 2022
If they don’t, there will likely be massive ramifications.
Anyone hoping they lose is against crypto.
David Gokhshtein tweets similar message
Crypto influencer David Gokhshtein, founder of his own Gokhshtein Media, has attempted to get a similar message across in his recent tweet. He stated that it is not necessary to be in love with Ripple or XRP. However, it is necessary to be on their side and support them against the securities regulator in this lawsuit.
Ripple's victory over the SEC, per Gokhshtein, would bring clarity to the whole crypto space and would allow this innovative industry to remain in the United States.
You don’t have to be a fan of Ripple or $XRP, but you should be rooting for them to win their case against the SEC.
— David Gokhshtein (@davidgokhshtein) December 9, 2022
It would bring clarity to the #crypto industry. It would also keep innovation in the U.S.
Ripple considered leaving U.S. not long ago
Several times earlier this year, Gokhshtein tweeted that if Ripple wins, not only would XRP skyrocket but the whole crypto space would.
As for innovation leaving the U.S., two years ago, Ripple considered moving its head office from San Francisco in the United States to another country that would be crypto friendly. Company CEO Brad Garlinghouse stated he would not rule out the possibility that Ripple's headquarters could leave the U.S.
On the shortlist of destinations for Ripple are such countries as the U.K., Japan, Dubai and Singapore.
Tomiwabold Olajide
Valeria Blokhina