Deaton Doesn't Expect Ripple to Settle with SEC in 2 Months

Attorney Deaton doesn’t believe that there will be a settlement of the case in the next two months
Over the weekend, XRPs social engagement hits 29,421,599 while its social volume surpass 9566

Deaton, an Attorney representing XRP holders predicts that the settlement will not come in the next two months. The XRP price has long been stuck in the battle between SEC and XRP. XRP holders are beginning to ask when will the curtains drop.

The Securities and Exchange Commission (SEC) filed a lawsuit against Ripple labs in December 2020, alleging that the firm sold unregistered securities since its native token XRP qualified as security which Ripple has consistently denied.

Many are asking about a settlement in the Ripple case. Some take everything they view as unusual, as a sign of settlement (like Saturday’s filings). It’s not. Sorry, but I don’t believe that there will be a settlement within the next two months, if ever. After the rules well see.

Deaton said in a recent tweet

EVEN IF YOU HATE RIPPLE READ THIS.

Miles is 💯
It is very bad for all crypto and must be fought. In the @Ripple case, the SEC is arguing if a foreign exchange maintains one sever w/in the U.S., it gives the SEC jurisdiction over crypto sales conducted anywhere in the 🌎 https://t.co/fnqoiqHhMG

— John E Deaton (@JohnEDeaton1) September 21, 2022

Other legal analysts like James k Filan a former federal prosecutor and Ripple’s defense attorney expect the legal battle to come to a conclusion in March 2023. There is still a possibility that it will go on for a longer period. The main reasons for the outstanding lawsuit are issues that come up in between, pushing the suit’s conclusion further.

A third party was dubbed in the SEC and XRP case requesting limited redaction to one of the file attachments made by the Securities and Exchange Commission in its motion for the summary judgment filed earlier.

Moving forward Deaton said he will welcome the suit’s conclusion if it is in favor of XRP holders. Speaking to The CryptoBasic, Deaton noted that the Securities and Exchange Commission is compelled to surrender the drafts of William Hinman’s 2018 speech. If this happens, the commission might be prompted to settle with Ripple labs instead of surrendering the documents.

During the weekend Brad Barlinghhouse the cofounder and Chris Larsen filed a motion. The summary judgment meant that both parties are asking the court to decide which party has provided enough proof and bring an end to the extensive lawsuit.

Since the parties filled summary judgments over the weekend, the price of XRP has been rising over time. The price has risen by over 9.78% to $0.3807 with a social volume of 9,566 and over 29 million social engagements. This is according to an analysis done by cryptocurrency social intelligence platform LunarCrush.