In a recent development concerning the legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC), Pro XRP Lawyer John Deaton has shed light on the potential implications of the SEC’s appeal on XRP holders. According to Deaton, the appeal is unlikely to pose a significant setback for XRP holders, as Judge Torres’ ruling is expected to remain effective for at least two years during the appeal process, providing a much-needed buffer period.
In a detailed analysis, Deaton expressed unwavering confidence in the strength of Judge Torres’ decision, particularly highlighting the crucial “common enterprise factor.” This legal factor plays a pivotal role in shaping the case’s outcome and bolsters the position of XRP proponents.
An appeal is not even close to be a setback. First, it will be two years from now before a decision is issued by the 2nd Circuit, if it’s appealed. The Torres Decision is the law until then – at least in the 2nd Circuit. Second, even if the 2nd Circuit said Torres was wrong… https://t.co/GzW31D9edQ
— John E Deaton (@JohnEDeaton1) July 22, 2023
Addressing the intricacies of enforcing the summary judgment, Deaton painted a picture of assurance, explaining that even if the appeal were to occur, the impact on XRP holders would be limited. This revelation comes as a relief to the XRP community, which has closely followed the developments in the ongoing legal battle.
The SEC’s appeal may not be the formidable roadblock XRP holders feared, as Deaton’s insights provide much-needed clarity and hope for a favorable resolution to the long-standing dispute.
As of today, XRP is valued at US$0.7756, boasting a substantial 24-hour trading volume of $1.82 billion. However, the digital asset has experienced a slight decline of -1.43% over the past 24 hours. Moreover, when compared to its impressive 7-day all-time high of $0.8502, XRP currently stands at -8.77% lower. On the other hand, it shows resilience, being 13.62% above its 7-day all-time low of $0.6827.
The circulating supply of XRP stands at 52.54 billion tokens, while its maximum supply is capped at 100 billion tokens. As a popular choice among crypto investors and enthusiasts, XRP continues to navigate the volatile market landscape, demonstrating both its potential and the challenges it faces.
