- Pro-Ripple attorney John Deaton has reiterated his support for Ripple and the XRP coin, stating that XRP has one of the most attractive risk/reward ratios.
- Deaton has shared his imagination of what could happen if Ripple wins or loses the lawsuit against the SEC and anticipates that the much-awaited ruling will come down within the next few weeks.
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. 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?
Deaton painted a scenario should Ripple win the lawsuit or make an appeal ultimately. Deaton believes that if the SEC wins, XRP might slump from its current price support level at $0.45.
The much-awaited decision bordering on the Ripple vs SEC lawsuit is expected to come down within the next few weeks. Many are optimistic that the ruling on the legal tussle between the blockchain payments firm Ripple and the US Securities and Exchange Commission (SEC) will be in Ripple’s favor.
There are two major schools of thought with respect to these expectations regarding XRP’s price. The first 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.
XRP is one of the oldest digital currencies in the blockchain ecosystem and one of the most promising payment tokens in its prime. It attained an All-Time High (ATH) of $3.8419 as far back as January 2018. However, 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.
Many are optimistic that the price of XRP can go back to breach the $3 resistance level with the impending decision on the Ripple vs SEC lawsuit. Besides the bullish prospects of Ripple outshining the SEC, the payments firm is also doing all it can to boost its smart contract capabilities on the XRPLedger protocol, which can fuel the demand and adoption of the XRP coin over time.
As the ruling on the Ripple vs SEC lawsuit looms, the XRP community remains hopeful that the outcome will be in its favor, bringing renewed strength to the cryptocurrency. John Deaton’s support for Ripple and XRP is an encouraging sign for many investors, and his position on the coin’s risk/reward ratio highlights the potential upside for XRP, depending on the outcome of the legal tussle.