Attorney John Deaton, who has been closely monitoring the SEC’s lawsuit against Ripple, recently shared his thoughts on Twitter regarding the ongoing case and its potential impact on XRP.
Deaton, the Managing Partner of the Deaton Law Firm, is also the founder of CryptoLaw, a website focusing on US legal and regulatory developments for digital asset holders, and the host of the YouTube channel CryptoLaw.
On March 26, Deaton tweeted that XRP offers the most attractive risk/reward ratio, in his opinion. He believes that the judge’s ruling on the case will come within the next few weeks and speculates on the potential outcomes. If the SEC wins, he suggests that the downside from $0.45 would be minimal, with Ripple likely to appeal and maintain the status quo. However, the upside could be significant if Ripple wins and XRP is not deemed a security.
Deaton also expressed his thoughts on the SEC’s recent Wells Notice to Coinbase, suggesting that the end game might be to allow incumbent players to capture a significant share of the industry.
In a recent interview with CNBC International TV at Paris Blockchain Week 2023, Ripple President Monica Long discussed the ongoing SEC lawsuit, Ripple’s global expansion, and the growth of its payment network. Long expressed confidence in the lawsuit’s resolution, stating that the facts and the law support Ripple’s case. She also contrasted the unified regulatory approach of European countries with the US’s struggle to establish clear crypto regulations.
Long commended Europe for setting explicit regulations enabling crypto and traditional finance companies to prosper, citing the MiCA framework established by 27 European countries as a successful collaboration. In contrast, she acknowledged the challenges the US faces in creating a cohesive regulatory system.
Ripple’s global presence continues to expand, with its London hub serving as the primary focus for growth. Long revealed that 75% of payment flows for Ripple’s flagship product were outside the US last quarter. The company is currently hiring through its London office and extending its payment network throughout Europe. Long also highlighted the company’s robust performance in Q1, with sustained growth and interest from new customers.
