The legal dispute between blockchain company Ripple and the Securities and Exchange Commission (SEC) continues to capture significant attention as the parties involved put forth various scenarios for the case’s resolution. Following Ripple’s partial victory, in which the court ruled that XRP tokens were not securities, the cryptocurrency community closely monitors the unfolding developments and speculates on the final outcome.
Notably, John Deaton, a prominent lawyer advocating for XRP, has cast doubt on the likelihood of a trial in this case. During an interview with Thinking Crypto on October 5, he expressed skepticism about the SEC’s prospects if it chooses to pursue the high-profile case, highlighting the numerous complexities the regulatory agency would face.
Deaton believes two alternative paths could be taken while predicting that the SEC might lose a trial, with his skepticism rooted in the potential risks and uncertainties associated with a trial, including the public spectacle it would create.
XRP seven-day price chart. Source: Finbold
In a technical analysis based on one-day data obtained from TradingView, XRP currently exhibits a state of neutrality. The summary, moving averages, and oscillators all indicate a ‘neutral’ sentiment, with respective readings of 9, 1, and 8.
XRP technical analysis. Source: TradingView
All factors considered, the prospects of XRP greatly remain hinged on the outcome of the SEC case.
