Pro-XRP lawyer John Deaton has hinted at a less than 3% chance that the United States Securities and Exchange Commission will win outright victory against Ripple, as the end of the long-running lawsuit nears.
The CryptoLaw founder has been a strong defender 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 unrecorded value offering.
In an episode of June 3, Good morning crypto podcastDeaton said he hinted at a 25% chance that US District Judge President Torres will rule in Ripple's absolute favor, and a 50% chance that Ripple will claim victory via a “split the baby” ruling. .
This refers to Judge Torress "drawing a line in the sand" where she could rule that XRP was offered as an unregistered security prior to 2018. However, in the stele of the Hinman papers - referring to internal SEC messages related to a 2018 speech given By Former SEC Head William Hinman: It's possible that cryptocurrencies could move from securities to commodities once they become sufficiently decentralized.
“I think XRP itself will not be considered a security and I think the secondary market sales show feedback. Even if [Judge Torres] determines that Ripple violated the law, that does not apply to secondary market sales,” Deaton explained.
While Ripple executives, including CEO Brad Garlinghouse, have long predicting an imminent end To the SEC's rollercoaster lawsuit, Deaton noted that Judge Torres will most likely reach a final decision before September 30 of this year.
Deaton drew attention to what he called a "six-month list" that district judges must submit to Congress. The list details all summary judgments that have been 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 suck at my job.'”
Furthermore, Deaton also gave his predictions on Ripple's native XRP token price following a positive decision.
“I certainly think somewhere I think $2 and $10 are reasonable”
Related: Pro-XRP lawyer's phone hacked to promote LAW token
speaking to Cointelegraph on May 22Deaton said the Ripple community should also keep an eye out for June 13, where investors will find out if XRP was actually discussed “among SEC staff before Hinman's speech.” this date is when Hinman's materials it will most likely not seal and could have a drastic impact on the case.
Rumors are also circulating that Ripple could potentially do an IPO as a public company following the conclusion of the lawsuit.
NEW: In April, @Vibe hosted a private "road show" (a marketing event in which a company and its underwriters meet with potential investors to generate interest in an initial public offering). I was told that almost every big-name institutional investment firm on the street attended. https://t.co/fyTzi6pr0W
— Eleanor Terrett (@EleanorTerrett) June 1, 2023
According to a June 2 cheep From Fox Business journalist Eleanor Terrett, Ripple hosted a “roadshow” meeting with subscribers and other investors to generate interest in a potential public offering.
Crypto Twitter Flame Hall: Pro-XRP lawyer John Deaton '10 times more in BTC, 4 times more in ETH
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