XRP Advocate John Deaton's Confident Backing of Ripple's Victory against SEC Appeal

Bombolo | News and Media

Prominent XRP advocate and lawyer John Deaton is displaying unwavering support for Ripple as they face an appeal by the Securities and Exchange Commission (SEC). Deaton's confidence is rooted in his analysis of Judge Analisa Torres's ruling and her logical approach, which he believes lays a strong foundation for an unfavorable outcome for the SEC.

Also Read: Ripple CEO Brad Garlinghouse Expresses Concern Over SEC's Use of XRP Markets Report in Legal Battle

Analyzing Judge Torres's Ruling:

Deaton points to a comprehensive thread authored by Australian lawyer and digital asset enthusiast Bill Morgan. This thread dissects Judge Torres's meticulous examination of each category of Ripple's XRP sales, as defined by the SEC. The Howey test was applied to each sales category, and Deaton is confident that this approach won't be reversed on appeal.

Distinctions in Categories:

Judge Torres's analysis brought to light significant disparities between the different categories of XRP sales. She highlighted the fact that institutional buyers engaged in contractual agreements with Ripple, setting them apart from buyers in programmatic sales. This distinction in expectations among investors due to varying factual circumstances supports Deaton's confidence in the judge's reasoning.

Also Read: XRP's Trading : 2 Million XRP Traded Every Minute, Could It Surpass Bitcoin?

Potential Doubts and Unpredictability:

Despite Deaton's optimism, recent developments introduce an element of uncertainty. U.S. District Judge Jed Rakoff, overseeing a different SEC case, rejected an approach similar to that of Judge Torres. This divergence adds an unpredictable aspect to the upcoming appeal. Furthermore, SEC Chair Gary Gensler's suggestion of a possible appeal indicates that the SEC remains resolute in their stance, although it doesn't guarantee a course of action.

Also Read: Rising Stars: XRP and Cardano Outshine Bitcoin Amid Investment Product Outflows

FAQ:

Q1: Who is John Deaton and why is he confident in Ripple's victory?

John Deaton is a prominent advocate and lawyer known for his support of XRP. He believes that Judge Analisa Torres's logical approach in her ruling lays a robust foundation for Ripple's success in the SEC appeal.

Q2: What did Judge Torres's ruling focus on?

Judge Torres's ruling examined the different categories of Ripple's XRP sales, as categorized by the SEC. She applied the Howey test to each category, emphasizing distinctions and expectations among investors.

Q3: Are there any uncertainties regarding the outcome of the appeal?

Yes, recent developments, including U.S. District Judge Jed Rakoff's rejection of a similar approach and SEC Chair Gary Gensler's suggestion of a possible appeal, introduce unpredictability to the situation.

Q4: What is the significance of institutional buyers in Ripple's XRP sales?

Institutional buyers engaged in contractual agreements with Ripple, setting them apart from buyers in programmatic sales. This distinction affects investors' expectations and adds weight to Deaton's confidence in the judge's reasoning.