XRP Case: Crypto Lawyer Says SEC’s Victory Over LBRY Is Not End for Ripple

Gamza Khanzadaev

My confidence in XRP is unshakable, says crypto lawyer after SEC victory

Even though LBRY lost in court and its LBC tokens were recognized as securities, the chances of winning Ripple and XRP did not diminish, said crypto attorney John Deaton. It should be recalled that the two cases were brought by the commission under similar headings.

Yes, the court’s finding that LBRY was selling LBC as unregistered securities is a complete victory for the SEC, the lawyer says, but it does not mean an immediate defeat for Ripple. Deaton’s argument is that the LBRY case did not set a precedent, and the judge in the SEC v Ripple case may disregard the recent result when making his own decision. Moreover, according to the lawyer, Ripple has more than a 50% chance of winning the case.

As Deaton notes, the structures of the case and the arguments put forward by Ripple, as well as the XRP holders whose testimony was also attached to the case, are different from those in the LBRY case. It’s like comparing sconces and oranges, concludes the expert.

Investors bet on Ripple winning

More than $1.1 million was absorbed into XRP-oriented investment products, according to a CoinShares cash flow report released yesterday. At the time, analyst James Butterfill said such numbers, a record high in recent months, could characterize the high probability of XRP and Ripple winning the deal in the eyes of investors.