Ripple’s advocate John Deaton has hinted the summary judgment can come as early as this week.
With the impending judgment and chances of Ripple’s success, expectations that XRP will soar is high.
Pro-Ripple attorney, John Deaton has reiterated his support for both the blockchain payments firm Ripple and the XRP coin as showcased in his latest tweets. The lawyer who represents thousands of XRP Holders as Amicus Curiae in the court case shared in a recent tweet that the much-awaited ruling on the legal brawl between the firm and the US Securities and Exchange Commission (SEC) is expected to come this week.
The Deaton Position on XRP
According to John Deaton, XRP as a digital currency has one of the most attractive risk/reward ratios. According to Deaton, should the SEC win Ripple, XRP might slump from its current price support level at $0.45. The legal veteran painted an imagination should Ripple win the lawsuit or make an appeal ultimately.
In his exact words, Deaton tweeted;
“XRP has the most attractive risk/reward ratio IMO. The Judge’s ruling is coming down w/in the next few weeks (maybe this week). If the SEC wins, what’s the downside from .45? Ripple appeals and we get the status quo. Ripple wins and its made clear XRP isn’t a security? Upside?
It has remained highly speculative that XRP is primed to soar extremely when the Ripple vs SEC lawsuit gets settled. There are two major schools of thought with respect to these expectations regarding XRP’s price.
The first was painted by Deaton and is predicated upon Ripple winning the SEC. At the time the judgment is passed, many traders sitting on the fence might possibly FOMO in and accumulate the digital currency in what will certainly uplift the coin’s price.
The second school of thought is hinged on how XRP will gain stability even though the payments firm loses the lawsuit. With its business growing sporadically in other parts of the world, particularly the Asia Pacific region, XRP is billed to chart its growth again and be positioned for the long term.
The Prospect on the Ripple and XRP Price
XRP is not just one of the oldest digital currencies in the blockchain ecosystem, it is one of the most promising payment tokens in its prime. XRP attained an All-Time High (ATH) of $3.8419 as far back as January 2018. At its current price level, the cryptocurrency is down by more than 87% from this ATH and there are speculations on whether or not this level can be retested soon.
With the impending decision bordering on the Ripple vs SEC lawsuit, many are optimistic that the price of XRP can go back to breach the $3 resistance level.
Besides the bullish prospects of Ripple outshining the SEC, the payments firm is also doing all it to boost its smart contract capabilities on the XRPLedger protocol which can also fuel the demand and adoption of the XRP coin over time.
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