“Fight Back if You Can”: John Deaton Applauds Ripple’s Bold Move to Fight SEC

The post “Fight Back if You Can”: John Deaton Applauds Ripple’s Bold Move to Fight SEC appeared first on Coinpedia Fintech News

John Deaton, a vocal advocate for Ripple, remains steadfast in his belief that the company will emerge victorious from its ongoing legal tussle with the United States Securities and Exchange Commission (SEC). He commends Ripple Labs Inc. for their resolute decision to confront the regulatory body head-on rather than opting for a settlement. Representing XRP holders, Deaton sees Ripple’s unwavering stance as a testament to their commitment to resisting regulatory pressures.

The issue is if this goes on how many companies have the capital to fight like Ripple? The SEC should eventually pay court fees for frivolous lawsuits. A government with “unlimited” resources could bankrupt most enterprises.

Unrelenting Fight for Justice

In response to a post from Ripple Labs’ Chief Legal Officer (CLO), Stuart Alderoty who emphasized the importance of challenging regulators, crypto attorney John Deaton hailed Ripple for its decision not to settle with the SEC. Deaton sees this as a bold move that demonstrates Ripple’s refusal to be intimidated by the regulator, even though it may have had political agendas.  

In his earlier X post, Stuart Alderoty said “The SEC is getting battered in the court. In our case it’s been proven wrong, been called hypocritical, lacking faithful allegiance to the law.”

Deaton and other industry leaders view Ripple’s handling of the lawsuit, including its executives Brad Garlinghouse and Chris Larsen, as a unique decision that could benefit the entire crypto industry in the long run. Ripple recently secured a temporary win when Judge Analisa Torres ruled that XRP is not a security when traded on secondary markets.

Read More: John Deaton Slams Jim Cramer Over ‘Ignorant’ and ‘Fake’ Statements

However, the SEC has actively contested this win and has been granted permission to file an interlocutory appeal. 

What to Expect Now? 

Does this appeal threaten the verdict or is it only a procedural requirement, as many industry experts, like John Deaton, argue? Although the SEC is appealing, experts like John Deaton believe it may not impact the verdict. The decision won’t be official until the appeals process is over. If Judge Torres’s verdict is upheld, the XRP price might surge.

XRP Price Analysis

Currently, XRP is trading at $0.52, if the price goes back up to the $0.55 area, it will mean that the direction is still down and that the breakdown is not real. In that case, prices could go up by 85%.

Also Read: Top Reasons Why XRP is About to Become Way Bigger Than Everyone Thinks