XRP Price Set to Skyrocket to $10 if Ripple Wins Lawsuit – Lawyer Asserts

June 5, 2023 Nitish shaw Cryptocurrency News 2

XRP Price to Hit New All-Time Highs as XRPL Adoption Goes Mainstream

Ripple Labs is expected to secure a victory in its lawsuit against the Securities and Exchange Commission (SEC), with a 97% chance of success, according to a legal expert. The lawsuit, which was filed in December 2020, alleges that Ripple Labs sold XRP as an unregistered security.

The lawyer, John Deaton, who is representing over 67,000 XRP holders in a separate lawsuit against the SEC, said that he believes Ripple Labs will win the case, reports ETHNews. He cited several reasons for his optimism, including the fact that the SEC has not been able to provide any evidence that XRP is a security.

Deaton also said that the SEC’s case is weak because it is based on the Howey Test, which was developed in 1946 to determine whether an investment is a security. The Howey Test has been criticized by legal experts for being outdated and irrelevant in the context of modern cryptocurrencies.

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If Ripple Labs is successful in its lawsuit, it could have a major impact on the cryptocurrency market. The SEC’s lawsuit has been a major overhang on the XRP market, and a victory for Ripple Labs could send the price of XRP skyrocketing.

Deaton predicted that the price of XRP could reach $10 if Ripple Labs wins its lawsuit. He said that this would be a “conservative” estimate, and that the price of XRP could even go higher.

The outcome of the Ripple-SEC lawsuit is eagerly awaited by the cryptocurrency community. A victory for Ripple Labs would be a major victory for the cryptocurrency industry, and it would send a strong signal to regulators around the world.

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About Nitish shaw 236 Articles
An aspiring novelist and a random blogger, Nitish is also a porky-mouthed banter specialist when it comes to football (soccer), films, TV Series, History and socio-economic issues. He travels, indulges in music and plays outdoor sports to get his creative juices flowing. “There’s the scarlet thread of murder running through the colorless skein of life, and our duty is to unravel it, and isolate it, and expose every inch of it.”- Quote this, and you will be his favorite person for at least as long as the two of you can hold up the conversation.

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