Ripple Case: Pro-XRP Lawyer Advises SEC to Win ‘Less Than 3%’

Pro-XRP attorney John Deaton has a less than 3% chance for the United States Securities and Exchange Commission to win an outright victory against Ripple as the long-running lawsuit nears its end.

The CryptoLaw founder has been a vocal advocate of Ripple against the SEC, which filed a lawsuit against the company in December 2020 alleging that the sale of its XRP (XRP) token represented an unregistered securities offering.

in the June 3 episode the good morning crypto podcastDeaton said he sees a 25% chance that US District Judge Torres rules directly in favor of Ripple, and a 50% chance that Ripple claims victory via a “split baby” ruling.

This refers to Judge Torres “drawing a line in the sand” where she could potentially rule that XRP was introduced as an unregistered security prior to 2018. However, in view of the Hinman documents – which reference the 2018 speech given By William Hinman, Former Director of the SEC – It is possible that cryptocurrencies could transform from securities to commodities once they are decentralized enough.

“I think XRP itself is not being considered a security and I think the secondary market sales comments show that. Even if[Judge Torres]finds Ripple violated the law, it will be able to apply to the secondary market sales. Doesn’t apply,” Deaton explained.

While Ripple executives, including its CEO Brad Garlinghouse, have long been predicting an imminent end to the rollercoaster lawsuit from the SEC, Deaton highlighted that Judge Torres is likely to make a final decision before September 30 this year.

Deaton drew attention to what he called a “six-month list” that district judges must file with Congress. The list gives details of all summary judgments which are pending for more than six months. It is published on the last day of March and the last day of September.

“She (Judge Torres) has never been on this list. It’s like a public shame list that says ‘look I’m shy about my job.’

Additionally, Deaton also made his predictions for the price of Ripple’s native XRP token following a positive verdict.

“I definitely believe there is a belief somewhere that $2 and $10 is reasonable”

Connected: Pro-XRP attorney’s phone hacked to promote LAW token

Speaking to Cointelegraph on May 22, Deaton said that the Ripple community should also keep a close eye on June 13, where investors will find out whether XRP was indeed discussed “among SEC staff prior to the Hinman speech.” This is the date the Hinman material will most likely be available and could have a huge impact on the case.

There are also rumors going around that there could be a possible IPO of Ripple as a public company following the conclusion of the lawsuit.

New: In April, @Tarang Hosted a private “roadshow” (a marketing event where a company and its underwriters meet with potential investors to generate interest in the IPO). I am told that it was attended by every reputable institutional investment firm on the street. https://t.co/fyTzi6pr0W

— Eleanor Terrett (@EleanorTerrett) June 1, 2023

as of June 2 do From Fox Business journalist Eleanor Terrett, Ripple hosted a “roadshow” where it met with underwriters and other investors to garner interest in a potential public offering.

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