Ripple Positioned For Positive Outcome In SEC Lawsuit As XRP Army Expects Landmark Court Rulings Soon

Ripple-SEC Suit: Did XRP Sales Violate Securities Laws? Judge Could Declare Verdict As Soon As June

The Ripple vs SEC lawsuit has kept many on edge, as a verdict is still yet to be passed. Although Ripple CEO Brad Garlinghouse is confident that a verdict will be passed in the first half of 2023 and that Ripple will be favoured, many are still questioning the possibilities. 

However, Attorney John Deaton, the founder and host of CryptoLaw, also a well-known Ripple proponent, is certain that Ripple will win its case against the SEC in the Supreme Court.

In a recent tweet, Stuart Alderoty, the Chief legal officer at Ripple, observed that the SEC has not been so lucky in the past with previous lawsuits. Stuart Alderoty noted that out of 5 cases, the SEC had lost 4 in the Supreme Court.

He credited the outcome to the few courageous enough to fight against the SEC with their resources. He added that the SEC also lost these cases because the select few involved were willing to push the statics of the legal positions that were not beneficial to the law then. 

Attorney John Deaton, in response, asserted confidence in Ripple’s ability to imitate the same path as the select few that have won against the SEC in the Supreme Court. He branded the SEC’s case as an overreach, citing the West Virginia EPA case as one of the examples of the SEC going overboard. He also claims that Ripple has already positioned itself for a positive outcome with its summary judgement brief. 

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“I have no doubt Ripple will win, and the current Supreme Court will shut down the @SECGov’s gross overreach. The West Virginia EPA case is all you need to read to agree with me. Ripple’s summary judgment brief is already an extremely well written appellate brief.” Attorney Deaton wrote in a tweet.

In addition, the attorney acknowledged some Judges whose actions in court have favoured Ripple’s case against the SEC in the past. Deaton expects Judge Analisa Torres, the United States district judge of the United States District Court for the Southern District of New York, to deny the SEC’s motion.

“We are lucky we got Judge Netburn and Judge Torres, and if Judge Torres denies the SEC’s motion like I expect her to and says it goes to a jury, that’s a win. You confuse my motion with Ripple’s. I filed in opposition of the SEC not in support of Ripple.” Deaton wrote in another tweet.