The prolonged legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has generated considerable interest and speculation within the cryptocurrency community.
In a new video by Late Night Grind, the analyst discusses John Deaton’s prediction on the timeline of the Ripple versus SEC case and the current price movement of XRP.
He said that while the price of XRP has experienced a decline, it is essential to note that it has not dropped as significantly as other cryptocurrencies, such as Bitcoin and Ethereum, during the recent market pullback. However, XRP has witnessed a swift drawback of several cents. The critical support level to monitor is around $0.42 cents, which it must hold.
Ripple vs SEC Verdict
John Deaton, a legal analyst closely following the Ripple versus SEC case, has offered his prediction on when the case might conclude. Drawing from Judge Torres’ decision-making history, Deaton speculates that the case may end on September 6, 2023.
This prediction aligns with a full six-month timeframe from when the expert witness issues were resolved. The delayed decision may also correlate with the diminishing social momentum and sentiment surrounding XRP.
Talking about XRP, Cardano, and Shiba Inu, he spoke about the implications of these cryptocurrencies being listed on a cryptocurrency index by the Hong Kong Virtual Assets Consortium.
In contrast to the United States regulators’ efforts to curb crypto activities, Hong Kong appears to be embracing the digital asset ecosystem.
Hong Kong legislators have even reached out to Coinbase, inviting them to apply as a premier trading partner. This signals a divergence in approach between Hong Kong and the US SEC, potentially positioning Hong Kong as a global web3 hub in the coming years.
