Crypto lawyer and founder of CryptoLaw, John E. Deaton, has expressed confidence that a momentous Ripple win against the rogue, overbearing U.S. Securities and Exchange Commission (SEC) is bound to happen.
This comes after Ripple General counsel Stuart Alderoty hinted at the fintech company’s willingness to fight the case right to the Supreme Court.
Why Deaton Sees A Definite Win For Ripple
As the long-drawn-out lawsuit between Ripple and the SEC draws toward an end, most experts are optimistic the San Francisco-based payments firm will prevail.
General Counsel at Ripple, Stuart Alderoty, pointed out in a recent tweet that the SEC has lost 4 out of the 5 cases that have moved forward to the apex court. Basing his argument on these statistics, attorney John Deaton asserted he has no doubt Ripple will also gain victory over the SEC and put an end to its “gross overreach” as a result.
Deaton also cited Ripple’s well-written summary judgment brief as another factor he thinks is positioning the company for a win.
I have no doubt Ripple will win and the current Supreme Court will shut down the @SECGov’s gross overreach. The West Virginia 🆚 EPA case is all you need to read to agree with me. @Ripple’s summary judgment brief is already an extremely well written appellate brief. https://t.co/o3g9zML9S2
— John E Deaton (@JohnEDeaton1) February 20, 2023
Meanwhile, Ripple’s legal team has notched some notable victories in the course of the two-year-long courtroom battle, including winning the right to depose former SEC Corporation Finance Division Director William Hinman and forcing the top American financial cop to turn over records that represent some of its internal deliberations.
A win for Ripple would humiliate the SEC and its headline-grabbing honcho Gary Gensler and invigorate the crypto industry, which has long accused the agency of failing to create a coherent way to regulate the fast-growing sector.
Expectations are also flying high for an XRP price mega rally if the ruling goes against the SEC. Should the rally materialize, we can expect XRP to smash the much-elusive $1 level on its way to taking out the $3.40 all-time high.