Ripple Case: Pro-XRP Lawyer Predicts SEC Victory, Ripple IPO Rumors Fly
• Pro-XRP lawyer John Deaton has predicted a 25% chance of an outright victory for Ripple in its legal battle against the SEC.
• Deaton believes that XRP could be deemed a non-security and secondary market sales would not be affected by a ruling against Ripple.
• Judge Torres is likely to come to a decision before September 30th, 2021 according to Deaton.
Ripple Case: Pro-XRP Lawyer Tips Outright SEC Victory
Attorney John Deaton has tipped that there is less than 3% chance of the Securities and Exchange Commission (SEC) scoring an outright win against Ripple, as rumors fly of a potential Ripple IPO.
Chance of Outright Win
Deaton, who is a CryptoLaw founder and vocal advocate for Ripple, suggested that there was a 25% chance that presiding U.S. District Judge Torres rules in favor of Ripple, with 50% odds of success through “splitting the baby” — drawing a line in the sand where she would potentially rule that XRP was offered as an unregistered security before 2018. This follows reports from Hinman documents which suggest cryptocurrencies can transition from securities to commodities once they become sufficiently decentralized.
Timeline for Decision
According to Deaton, Judge Torres will most likely come to a final decision before Septmeber 30th this year — due to her 6 month list which details all summary judgements pending for longer than half a year — published on March and September’s last day each year. As such, she never appears on said list.
Possible Result
Deaton suggested that even if Judge Torres ruled finding that Ripple violated the law, it wouldn’t apply to secondary market sales; implying XRP being deemed as non-security overall. In addition, CEO Brad Garlinghouse has long been predicting an imminent end to the rollercoaster lawsuit from SEC.
Conclusion
With all things considered it looks like we won’t have too long until we see how this case plays out – with Judge Torres’ decision expected any time before September 30th 2021!
