- Legal expert John Deaton suggests the SEC lacks strong grounds for appealing Ripple’s favorable ruling.
- If appealed, the case could return with the same outcome or escalate to higher courts, prolonging the legal process.
As the legal battle between Ripple and the SEC continues, investors and industry watchers are keenly observing the developments. Legal expert John Deaton recently shared insights on the 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, Deaton suggested that the SEC might not have substantial reasons to appeal the case.
Despite possible disappointment from the initial rulings, the appeal might not succeed due to prior judicial decisions. Specifically, Judge Torres ruled that the SEC had failed to meet key criteria , suggesting that any appeal would likely yield the same outcome in Ripple’s favor.
Prospects in Higher Courts
Deaton also mentioned that if the case escalated to the Second Circuit Court, the court would probably support Ripple, reinforcing Judge Torres’ decisions. 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 unfolding for Ripple’s backers. 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 a majority of the commissioners possibly in favor of dropping the charges, Ripple could see a significant legal victory , acknowledging XRP’s legitimate market role akin to other major cryptocurrencies.
Source: Tradingview
XRP (Ripple) is currently priced at $3.13 USD, reflecting a 3.58% increase over the past 24 hours. Its 24-hour trading volume stands at $16.2 billion USD, indicating a significant level of market activity.
The market capitalization of XRP is approximately $180.38 billion USD, with a fully diluted valuation (FDV) of $313.36 billion USD. XRP has a circulating supply of 57.56 billion XRP out of a total supply of 99.98 billion XRP.
