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XRP Case: Crypto Lawyer Says SEC's Victory Over LBRY Is Not End for Ripple

Tue, 11/08/2022 - 09:58
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Gamza Khanzadaev
My confidence in XRP is unshaken, says crypto lawyer after SEC victory
XRP Case: Crypto Lawyer Says SEC's Victory Over LBRY Is Not End for Ripple
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Even though LBRY lost in court and its LBC tokens were recognised as securities, the chances of Ripple and XRP winning have not diminished, says crypto lawyer John Deaton. Recall that both cases were brought by the commission under similar headings.

Breaking: Ripple Ally Loses Against SEC

Yes, the court's finding that LBRY was selling LBC as unregistered securities is a total victory for the SEC, the lawyer says, but it does not mean an immediate defeat for Ripple. Deaton's argument is that the LBRY case has not set a precedent, and the judge in the SEC case against Ripple may not take the recent result into account when rendering his own decision. Moreover, according to the lawyer, Ripple has more than a 50% chance of winning the case.

As Deaton notes, the structures of the case and the arguments made by Ripple, as well as the XRP holders whose testimony was also attached to the case, are different from those in the LBRY case. It is like comparing applies and oranges, the expert concludes.

XRP Absorbs $1.1 Million in Fund Flows as Investors Bet on Ripple Side

Investors bet on Ripple's win

More than $1.1 million have been absorbed by XRP-oriented investment products, according to a CoinShares cash flow report released yesterday. At the time, analyst James Butterfill said such figures, a record high in recent months, could characterize the high probability of XRP and Ripple winning the case in the eyes of investors.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.