Ripple News: XRP’s Struggle Post-SEC Lawsuit: Deaton Highlights Lost Adoption

1 year ago 101

The post Ripple News: XRP’s Struggle Post-SEC Lawsuit: Deaton Highlights Lost Adoption appeared first on Coinpedia Fintech News

After a protracted legal battle with the SEC spanning over two years, Ripple has emerged victorious, significantly impacting XRP’s development. Pro-XRP attorney John Deaton criticizes the SEC’s behavior, attributing hindrances to XRP’s growth to the regulatory conflict.

Deaton’s Critique of SEC Conduct

Even if you hate Ripple and believe XRP is a shitcoin, if you believe in a free market system, with a fair level playing field, overseen by a fair and honest regulator, I don’t see how you couldn’t be disgusted by the SEC’s conduct. You can’t stand by or cheer government… https://t.co/pOvbunIzhx

— John E Deaton (@JohnEDeaton1) August 22, 2023

Founder of Crypto Law, John Deaton, emphasizes fair marketplaces and balanced regulatory frameworks. He warns against endorsing government interference, citing potential adverse repercussions. Deaton insists that regardless of personal bias, concern for impartial government actions is crucial.

Highlighting XRP’s pre-lawsuit performance, Deaton notes the lag in progress compared to other altcoins since the legal dispute. He underscores the three years of adoption lost due to the SEC lawsuit’s impact. Notably, Coinbase’s pre-lawsuit endorsement prompted Deaton to increase his XRP holdings.

XRP’s Current Status

XRP’s price sits at $0.51 with a market cap of $27.1 billion, experiencing a 52.57% change this year. Recent updates in the Ripple vs. SEC lawsuit triggered a price surge, but the SEC’s potential appeal led to a 10% decline in the past week.

Deaton’s rebuke of the SEC underscores the need for impartial regulation. XRP’s legal journey and market fluctuations highlight the weight of regulatory decisions on cryptocurrency dynamics.

Read Entire Article