JAKARTA - John Deaton, a lawyer who has been monitoring the SEC case against Ripple, recently shared his views on ongoing cases and their potential impact on XRP through his Twitter account.
Deaton, who is also a Managing Partner of the Deaton Law Firm and founder of CryptoLaw, argues that XRP offers the most exciting risk/profit ratio.
Deaton predicts that the judge's decision in this case will be announced in the next few weeks and adds in a possible bracket this week. Deaton predicts possible results.
If the SEC wins, Deaton says that a drop in the price of XRP from 0.45 USD will be minimal, as Ripple is likely to appeal and maintain the status quo. However, if Ripple wins and XRP is not considered security, then the potential gain could be significant.
Deaton also expressed its opinion on the Wells Notice SEC against Coinbase, which it said would allow incumbent players to seize significant market share. For your information, the Incumbent player or inkumben player is a term that refers to companies that have been operating for a long time and have dominated certain markets.
He also believes that Coinbase isn't the only exchange that accepts Wells Notice, and other exchanges like Kraken, BinanceUS, and Binance may also receive or will receive similar notifications.
Ripple President Optimistic
Meanwhile, Ripple continues to expand its worldwide presence. Ripple president Monica Long, in an interview with CNBC International TV on Paris Blockchain Week 2023, expressed confidence that the SEC case would be resolved and facts and laws support the Ripple case.
Long also compared Europe's unified regulatory approach to the US struggle to establish clear crypto regulation. He praised Europe for setting explicit regulations, which allow traditional finance companies and crypto to thrive. Meanwhile, he acknowledged the challenges US faces in creating a cohesive regulatory system.
The Ripple office in London is the main focus of the company's growth. Long revealed that 75 percent of Ripple's main product payments were outside the US in the last quarter.
The company is currently recruiting through its London office and expanding its payment network across Europe. Long also highlighted the company's strong performance in Q1, with continued growth and interest from new customers.
However, the SEC case against Ripple remains a major concern for market players and crypto enthusiasts. This case could have a significant impact on the price of XRP and establish a clearer regulatory policy for crypto in the US. Observers will continue to monitor the development of this case and find out the final decision of the US court.
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