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Pro-XRP lawyer John Deaton has tipped less than a 3% chance for the United States Securities and Exchange Commission to score an outright win against Ripple, as an end to the long-running lawsuit draws closer.<\/p>\n
The CryptoLaw founder has been a vocal advocate for Ripple against the SEC, which filed a lawsuit against the company in December 2020, alleging that the sale of its XRP (XRP) token represented an unregistered securities offering. <\/p>\n
In a June 3 episode of The Good Morning Crypto podcast, Deaton said he tipped a 25% chance that presiding U.S. District Judge Torres rules in outright favor of Ripple, and a 50% chance that Ripple claims victory by way of a \u201csplitting the baby\u201d ruling. <\/p>\n
This refers to Judge Torress \u201cdrawing a line in the sand,\u201d where she could potentially rule that XRP was offered as an unregistered security before 2018. However, in the wake of the Hinman documents \u2014 which refer to internal SEC messages related to a 2018 speech given by former SEC Director William Hinman \u2014 it\u2019s possible that cryptocurrencies can transition from securities to commodities once they become sufficiently decentralized.<\/p>\n
\u201cI think that XRP itself is going to be deemed not a security and that I think that secondary market sales show comment. Even if [Judge Torres] does rule finding that Ripple violated the law, that doesn't apply to secondary market sales,\u201d Deaton explained. <\/p>\n
While Ripple executives including its CEO Brad Garlinghouse have long been predicting an imminent end to the rollercoaster lawsuit from SEC, Deaton highlighted that Judge Torres will most likely come to a final decision before Sept. 30 this year. <\/p>\n
Deaton brought attention to what he called a \u201csix-month list\u201d that district judges must file to Congress. The list details all of the summary judgements that have been pending for longer than six months. It gets published on the last day of March and the last day of September. <\/p>\n
\u201cShe [Judge Torres] has never been on this list. It\u2019s like a public shame list that says \u2018look I\u2019m shitty at my job.\u2019\u201d<\/p><\/blockquote>\n
Additionally, Deaton also gave his predictions for the price of Ripple\u2019s native XRP token following a positive ruling. <\/p>\n
\u201cI certainly believe that somewhere believe $2 and $10 is reasonable\u201d<\/p><\/blockquote>\n