Prominent XRP-friendly lawyer John Deaton recently took to Twitter, suggesting that XRP has the most attractive risk/reward ratio and that its price could skyrocket if the court rules in favor of Ripple in its ongoing legal battle with the U.S. Securities and Exchange Commission (SEC).
The SEC has accused Ripple Labs, the company behind XRP, of raising over $1.3 billion through an unregistered, ongoing digital asset securities offering. The crux of the case is determining whether XRP should be classified as a security. If Ripple emerges victorious, it could provide much-needed clarity and pave the way for XRP's future growth.
Deaton's tweet indicates that if the SEC wins, Ripple could appeal the decision, maintaining the status quo.
However, if Ripple wins and XRP is deemed not to be a security, the upside could be substantial. The court decision is expected within the next few weeks, possibly even this week, as Judge Torres has not yet reached the six-month mark since the case was last pending.
The XRP community remains optimistic, as evidenced by a recent development in the case. As reported by U.Today, the defendants recently filed a Letter Notice of Supplemental Authority in further support of their fair notice defense. This notice cites the decision of Judge Michael Wiles in the Voyager bankruptcy case, in which he rejected the SEC's objections and approved the bankruptcy plan.As the legal battle between the SEC and Ripple Labs continues, investors and the crypto community eagerly await the court's decision, which could significantly impact XRP's price and the broader cryptocurrency market.
Godfrey Benjamin
Yuri Molchan
Tomiwabold Olajide