Ripple Vs SEC: This Move by John Deaton Could Support XRP Holders


Attorney John Deaton, the creator of Crypto Law, declared that if the SEC had brought legal action against Ethereum or any of its leaders, including Vitalik Buterin and Joseph Lubin, he would have backed the cryptocurrency in the same way that he has for Ripple.

According to Deaton, He has kept holding ETH because he anticipates that those who have criticized him thus far would write off his efforts on behalf of the Ripple community as being the work of an enraged XRP holder.

He add that he has continually held more ETH than XRP because he anticipates that detractors will write off his current efforts on behalf of the Ripple community as being the work of an irate XRP holder.

Lawyer Deaton has been a spearhead in the Ripple case

 It is noteworthy that Ripple v. SEC lawyer Deaton has been at the forefront of the case. The creator of Crypto Law is presently defending more than 72,000 XRP investors in a class action lawsuit against the Securities and Exchange Commission for suffering significant losses.

Deaton made his statement shortly after the inventor of Cardano called the allegations made by XRP holders regarding former SEC employees a “grand conspiracy.” Following a recent statement, Charles Hoskinson is now facing the full fury of the XRP community. Crypto Eri, a well-known XRP enthusiast, says she is disturbed by Charles’s remarks.

XRP is presently trading at $0.5159, a price increase of 5.16%. According to the data from coinmarketcap, on the last day, the price of XRP fluctuated between $0.4855 and $0.5279, with a market cap of $51,597,452,683 and $2,935,009,906 in trading volume.

The MACD line is currently crossing over the signal line, and the RSI is currently at 66, indicating an overbought region. Bullish momentum is revealed by all the indicators.

Source: Tradingview

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