Ripple Lawsuit: Top Crypto Attorney Reveals the SEC's Only Hope for a Win

Crypto attorney John E. Deaton has predicted that the U.S. Securities and Exchange Commission (SEC) will only succeed in establishing that the blockchain payments firm Ripple sold XRP as a security from 2013 to 2017 in the ongoing legal battle between the two parties.

Timeline of Xrp

Ripple (XRP) is a cryptocurrency that facilitates fast and cheap cross-border money transfers. It is the native token of the Ripple network, a decentralized payment protocol that connects banks, payment providers, and digital asset exchanges.

Ripple's native token XRP has felt the heat of the crypto market's recent upward push as the token surged over 10% in 24 hours. However, the price trend of XRP remains bearish amid intense volatility as buyers need more strength to escape the current consolidation range to mark a bullish trend continuation.

A journalist is arguing to have critical documents released in the contentious legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). Forbes senior contributor Roslyn Layton, represented by her attorney J. Carl Cecere, filed a motion with District Judge Analisa Torres to release the Hinman files to the public.

XRP News: Ripple's native crypto, XRP price is on a downtrend due to increased volatility in the crypto market. However, XRP price usually shows some movement in reaction to updates coming out from the U.S. SEC Vs Ripple lawsuit.

Investors are keeping a close eye on the price of XRP as the cryptocurrency industry waits for the outcome of the case brought forward by the United States Securities and Exchange Commission (SEC) against Ripple.

The United States Securities and Exchange Commission (SEC) is facing scrutiny for its recent lawsuit against Terraform Labs and its founder, Do Kwon. Court documents suggest that the regulatory body is treating Terra and Kwon with significantly less severity than Ripple, raising questions about the SEC's inconsistent approach to regulating the cryptocurrency industry.

The XRP price has fallen by 3% in the past 24 hours, dropping to $0.387535 amid a marketwide fall today. It has now increased by 1% in a week and dipped by a very slight 0.2% in the last 30 days, as the XRP community continues to wait for the conclusion of Ripple's long-running legal battle with the SEC.

Ripple has defined Central Bank Digital Currencies (CBDCs) as a key priority in its 2023 projections and goals, and already boasts notable collaborations with several countries. As Bitcoinist reported, in mid-January the fintech company landed the southeastern European country of Montenegro to pilot a digital stablecoin.

XRP News: Ripple's native crypto, XRP witness a significant increase in whale movement. However, crypto whales have been on an XRP accumulation spree since December 2022 as Ripple Vs the SEC lawsuit is edging closer to a judgment.

John Deaton, who founded CryptoLaw U.S., has taken to Twitter to tell the community that Brian Armstrong of Coinbase provided the only worthy response to the SEC threatening U.S. crypto exchanges, and Kraken in particular, for their staking products.