Prominent crypto attorney John Deaton has recently shared his perspective on the SEC’s ongoing lawsuit against Ripple, suggesting that a settlement of $20 million or less would overwhelmingly favor Ripple, contrary to a perceived 50/50 split with the SEC. Deaton’s comments, shared on social media, echo Ripple‘s Chief Legal Officer Stuart Alderoty’s sentiments on the matter, who also pointed out the SEC’s recent legal hurdles.
In particular, Alderoty referenced a case where the SEC was denied a large disgorgement award by the U.S. Court of Appeals for the Second Circuit because it failed to show actual financial harm to investors. This decision could have a direct impact on the SEC’s aggressive stance in its case against Ripple.
The legal proceedings against Ripple began in December 2020 when the SEC accused the company of an unregistered securities offering via its XRP sales. However, the narrative has since shifted, especially after Judge Analisa Torres ruled that XRP is not a security in secondary market trades. The case has also seen a downscaling of charges against XRP executives.
Most recently, Judge Torres has agreed to a joint proposal from the SEC and Ripple to outline a briefing schedule addressing the institutional sales of XRP, a core element of the lawsuit where Ripple is alleged to have violated securities laws. The parties are set to present this schedule by November 9.
What’s Next for Ripple?
As Ripple stands on the cusp of what could be a landmark legal triumph, the crypto community is keenly observing what the future holds for Ripple and the wider implications for the industry’s regulatory framework.
XRP Price Momentum
In the midst of these legal developments, XRP’s price has surged by 9.31% today, reaching $0.6789. The 24-hour high was $0.6884, with a low of $0.6184. The trading volume for XRP over the last 24 hours was 456,685,314.00 XRP, with a USDT volume of 296,115,621.44, reflecting a surge in investor interest.
In summary, Ripple’s potential $20 million settlement with the SEC is viewed by many as a near-total victory. As the case progresses, the outcome is expected to have significant repercussions for Ripple and the broader cryptocurrency market.
- Despite the Crypto Crash, some positive news for Ripple from the CEO?
- Big News: Ripple Price is about to TRIPLE? This News Confirms…
- XRP Lawyer John E. Deaton Receives ICBLA’s Award
- Shiba Inu Price Prediction: How High can SHIB Price reach by 2030?
- Ripple Counters SEC’s Appeal on XRP’s Status
- SEC vs. XRP: What Investors Need to Know
- Ripple SEC Update: Extension Granted for Unsealing of Hinman Documents
- Ripple wins SEC: First step towards victory, and XRP up?
- XRP Price in DANGER as SEC proceeds with Appeal! What Will Happen?
- XRP News: Judges sides with Ripple again, denies SEC appeal
- SEC vs Ripple: Mark Your Calendars for Q2 2024 Trial
- XRP Prediction: Why XRP Price might EXPLODE in November 2022?
- Ripple Price Prediction: XRP Price is Down but THIS is what’s Next!
- XRP Price Prediction for May 2023: Still Bullish Despite Recent Drops?
- Ripple News: XRP Price to Go UP as Ripple won the SEC Again?
- BREAKING NEWS: Ripple WINS SEC Lawsuit and XRP jumps to 10$?
- Ripple WINS SEC Lawsuit: Will XRP Price reach 1$ now?
- XRP Prediction: LAST CHANCE to Buy XRP below 40 cents!
- XRP relisted, Ripple CEO optimistic about the Lawsuit…BUY XRP in 2023?
- Ripple’s CTO Drops Hints about IPO and SEC Settlement at Upcoming NYC Event
- Ripple Lawsuit Decision SOON – Excessive Optimism or Reality?
More from Ripple
XRP seems to be lagging behind its peers such as BTC, ETH and SOL, despite the potential for significant growth. …
The question now is whether the price of XRP will reach $1 shortly. Let's take a look at this XRP …
Is the price of XRP about to skyrocket? Will it soon reach $1? Let us examine this in this XRP …