XRP Vs SEC: John Deaton predicts no change in Ripple price
John Deaton explained that the SEC could choose to settle the case or make a decision to protect its interests in the purchase of XRP.
Pro-ripple expert John Deaton has made it clear that there will be no recommendation for an ongoing purchase of XRP between the SEC and Ripple. Deaton's comments come after a significant development in the case, in which a federal judge dismissed the SEC's lawsuit to appeal an earlier lawsuit against Ripple.
Is there a trial ahead in purchasing XRP?
As Coingape explained, District Judge Analisis Torres recently filed a sweeping lawsuit against the SEC's efforts by denying them permission to file an interception appeal. This decision is a ruling on the SEC's efforts to obtain an initial appeal while those of Brad Garlinghouse and Chris Larson, figures involved with Ripple, still have not.
In my opinion Crypto, Deaton underlines the importance of this development. He noted that the SEC's attempt to study the initial appeal was essentially a challenge to Judge Torres ' decision in July.
Deaton further stated that the judge's decision to reject the appeal and establish trial liability for other outstanding issues in April 2024 was a significant decision for the SEC.
Deaton's prediction: no prediction in Ripple lawsuit
When asked about the possibility of a trial, Deaton unequivocally expressed the opinion that the trial in the case of SEC vs. Ripple is not going to happen. According to him, the agency is unlikely to pass the trials because it conducts oversight of them thinly on a variety of factors, including its rulings of previous judges, the lack of credible evidence from the SEC, and the potential high costs associated with the trials.
He also explained that the SEC has other urgent legal relationships, such as its cases against Coinbase and Binance, which generate its resources.