The XRP community is abuzz with excitement after John Deaton, a prominent lawyer, and XRP advocate, made a bold prediction on Twitter. According to Deaton, XRP has the most attractive risk/reward ratio, and if the court rules in favor of Ripple in its legal battle with the U.S. Securities and Exchange Commission (SEC), the price of XRP could skyrocket.
The case, which has been ongoing for several years at this point, centers around whether XRP should be classified as a security. The SEC has accused Ripple Labs, the company behind XRP, of raising over $1.3 billion through an unregistered digital asset securities offering. If Ripple emerges victorious, it could provide much-needed clarity and pave the way for XRP’s future growth.
Deaton’s tweet suggests that if the SEC wins, Ripple could appeal the decision, maintaining the status quo. However, if Ripple wins, it will be made clear that XRP is not a security, and the token could see a significant upside.
The community is eagerly awaiting the outcome of the case, and there is growing consensus that the judge’s ruling is coming down in the next few weeks, possibly even next week.
Legal Dispute Could End Soon
In related news, according to a Fox Business report, lawyers working on the matter have suggested that the legal dispute between Ripple and the SEC might end in the next couple of days. This has further heightened expectations that the case will soon be concluded.
Deaton, who believes that the controversial Hinman speech emails will be unsealed on the grounds of being “judicial documents,” has challenged the crypto community to view the case as an attack on the general crypto industry and not solely a Ripple issue.
XRP has seen a significant increase in price in the past seven days, rising by over 20%. This increase has been driven by growing optimism surrounding the outcome of the case and the potential for XRP’s future growth. Although notably, Ripple boss Brad Garlinghouse has repeatedly said that XRP’s market has very little to do with the infamous suit. Nonetheless, the token remains one of the best performers in the market as of the time this article was being written.
Source: https://coinpedia.org/ripple/xrp-is-the-best-altcoin-to-bet-on-at-the-current-price-john-deaton/