Ripple News: Deaton Warns of Backfire as SEC Appeals XRP

In XRP pump and dump sessions, the outcry is based on the lawsuit. On this Crypto lawyer John Deaton has shared his thoughts on the SEC’s move to appeal the XRP lawsuit. He explains that the SEC wants to challenge parts of the court’s decision early, even before the main case ends. This could give the SEC an advantage, but Deaton says it doesn’t mean they’ll automatically win. 

Deaton weighs in on XRP ruling

Deaton in his X post revealed that the judge will likely agree to this early challenge. If that happens, the judge could explain her decision better, making it harder to dispute later on. Deaton also thinks this could be a chance for the judge to address concerns raised by another judge.

As for Deaton’s own involvement, he’s waiting to hear what Ripple, the company behind XRP, has to say before he decides what to do. He wants to make sure his input adds something new and useful to the case.

Deaton’s insights show that the SEC’s appeal could be a smart move, but it’s not guaranteed to work. The process might make the judge’s decision stronger and could help clear up some legal questions. We’ll have to wait and see how it all plays out. 

Did SEC miss the chance to appeal? 

In the latest development, the Court is now aiming to have a trial before a jury in the second quarter of 2024. It’s possible that the SEC has missed the window to submit the “interlocutory appeal” this week, given their unexpected announcement. 

Today marked the beginning of a new year of speculation, with XRP prices rising by 66 cents before the market opened while other assets like ETH and Cardano continue to struggle to attain a new ATH due to their legal status.

According to the implication of the judgment, any cryptocurrency may be a security depending on the context of the sale, whether it be an institutional sale or a secondary market sale. While XRP may get advantage of this as it may get a cooling period to hold its position in the market. 

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