Ripple Lawsuit: John Deaton Urges SEC to Drop Ripple Case

Ripple Case: John Deaton Pushes for Dismissal After SEC’s Hex Defeat

SEC Lawsuit Dismissal Against Hex Founder Sparks Hope for Ripple Case

The recent dismissal of the SEC lawsuit against HEX’s Richard Heart has given the crypto community new hope for a positive outcome in the Ripple vs SEC case. XRP lawyer John Deaton is now pushing for a quick resolution to the Ripple case.

John Deaton has publicly called on key SEC officials, including Hester Peirce and Mark Udeya, as well as crypto advisors David Sacks and Bo Hines, to dismiss the case against Ripple. 

He believes that the court’s decision in the Hex case sets an important precedent. If the SEC continues to lose major crypto lawsuits, it may be forced to rethink its stance on digital assets and regulation.

John Deaton Calls on SEC Officials to Dismiss XRP Lawsuit

John Deaton made his appeal on social media, speaking on behalf of 75,000 XRP holders. John Deaton has been a strong supporter of Ripple and continues to fight for fair treatment of cryptocurrency companies. He argues that the SEC’s actions harm investors rather than protect them.

With the recent dismissal of the SEC’s case against Hex’s Richard Heart, Deaton sees an opportunity for Ripple. He hopes the SEC will follow the same path and end its case against XRP. The crypto community is watching closely for the next move.

XRP Ripple VS US SEC Case?

The XRP vs. SEC case is a legal fight between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). The SEC sued Ripple in December 2020, saying the company sold XRP as an unregistered security and raised $1.3 billion. The SEC believes XRP should follow the same rules as stocks and bonds.

In July 2023, a judge ruled that XRP is not considered a security when traded on public exchanges, but may be classified as a security in direct sales to large institutional investors. The case is still not fully settled, and a final decision is expected in 2024. Many in the crypto industry are watching closely, as the outcome could affect how other cryptocurrencies are regulated in the U.S.

What This Means for the Crypto Market

The dismissal of the SEC’s lawsuit against HEX founder Richard Heart has sparked a strong reaction in the crypto market. Following the court’s decision, tokens like HEX, PulseChain (PLS), and PulseX (PLSX) saw significant price surges. Investors welcomed the ruling as a sign of growing legal pushback against the SEC’s regulatory actions.

With the SEC recently dropping multiple crypto-related lawsuits, investors are now speculating whether XRP could experience a similar price surge if the Ripple case reaches a favorable settlement. The positive market reaction to HEX’s legal victory suggests that a win for Ripple could drive significant gains for XRP, boosting confidence across the broader crypto market.

Potential Game-Changer for Crypto

The XRP community is hopeful that the Ripple lawsuit could be the next major victory for the crypto industry. With the SEC recently dropping multiple crypto cases: like Coinbase, Uniswap, HEX. 

If SEC resolved in Ripple’s favor, This would benefit not just XRP holders but the entire crypto market by reducing legal uncertainties.