John Deaton, a renowned attorney and supporter of XRP, has provided his thoughts on the most recent developments in the continuing legal dispute between Ripple and the U.S. Securities and Alternate Fee (SEC). Deaton shared his experience of getting a case-related email that at first raised hopes but ended up being the withdrawal of a lawyer, emphasizing that it had no significant ramifications for the outcome of the case.
Deaton explained that the case’s judge, Choose Torres, would file the abstract judgement on the public docket in response to a web user’s query about its availability. As a result, the judgement would be obtained concurrently by each Ripple, the SEC, and the majority of the public, matching distinct judgements within the case.
Deaton also discussed how the SEC litigation has affected Ripple and XRP. He noted that many new clients had discovered the digital asset and its CEO, Brad Garlinghouse, as a result of the legal action. According to Deaton, more than 4 million XRP addresses have been impacted due to the increased attention and awareness.
Deaton noted that there are holders globally who won’t even think about Ripple’s existence while highlighting the global reach of XRP. He spoke with another attorney who voiced doubt regarding affidavits from those who purchased XRP after the lawsuit was filed. Deaton claimed that unlike XRP addresses, which are found in a variety of countries like Japan, Mexico, the Netherlands, and Australia, SEC actions are limited to the USA.
John Deaton’s observations clarify the changing dynamics of the case and its impact on Ripple, XRP, and the global community of XRP holders as the Ripple litigation is still in progress.
