My confidence in XRP is unshaken, says crypto lawyer after SEC victory
According to cryptocurrency attorney John Deaton, although LBRY lost in court and had its LBC tokens declared securities, the likelihood that Ripple and XRP will succeed has not changed. Remember that the commission filed both complaints under the same general topics.
Crypto Lawyer Says SEC’s Victory Over LBRY Is Not End for Ripple
The attorney claims that although the court’s decision that LBRY was selling LBC as unregistered security is a complete triumph for the SEC, Ripple is not necessarily doomed immediately. According to Deaton, the LBRY case did not establish a precedent, and the SEC lawsuit against Ripple’s judge might not consider the recent outcome when making his conclusion. The attorney also asserts that Ripple has a better than 50% chance of succeeding in the case.
Ripple has a much better chance than 50/50, but its not because of Ripple or what they did or didn’t do, it’s about how the SEC chose to prosecute the case. The SEC chose to go with an all or nothing approach: All XRP from the beginning of time until the end of the world theory.
— John E Deaton (220K Followers Beware Imposters) (@JohnEDeaton1) November 8, 2022
According to Deaton, the XRP case differs from the LBRY case in terms of the court’s organizational framework, Ripple’s arguments, and the XRP holders whose testimony was also included in the case. The expert says it’s like comparing apples with oranges.
According to a CoinShares cash flow report released yesterday, XRP-focused investment products have taken in more over $1.1 million. At the time, analyst James Butterfill claimed that these data, which have reached a record high in recent months, may be used to demonstrate to investors the strong likelihood that XRP and Ripple will prevail in the case.
Read more:
- $1.1 Million In Funds Flow Into XRP As Investor Confidence In Ripple’s Win Grows
- SEC Must Prove Two Things To Prevail In Summary Judgment
- Over 71 Million XRP Flowed To FTX Exchange Which Seeing Flurry Of Transfers