XRP Likely To Be Only Clarity for Next 2 Years, CryptoLaw Founder Predicts

XRP remains significant and should be taken seriously by CryptoLaw founder and blockchain enthusiast John Deaton.

It might be the only clarity the crypto market gets for the next two years, whatever the outcome of the Ripple-SEC lawsuit.

If Ripple loses its lawsuit against the SEC and XRP is deemed a security, the SEC might be emboldened to enforce its regulations.

“You should care about XRP because what Judge Torres decides about XRP is likely the only clarity we get for the next 2 years. If she decides XRP is a security, it will embolden the SEC to come after the other tokens,” Deaton stated.

Based on the 2015 FinCEN/DOJ settlement, Deaton believes that XRP is already the first regulated cryptocurrency in the U.S. However, the cryptocurrency market would gain clarity on a macro scale due to the Ripple-SEC lawsuit.

A tweet by Blockchain Association’s Ron Hammond stated that the crypto industry remains in the crosshairs of Congress following the fallout from FTX.

According to John Deaton, a court verdict is more likely than a settlement now that the motions for summary judgment and to exclude expert testimony have been fully briefed.

In response to a user’s question, Deaton replied, “If I had to bet, I would say not before March. Maybe by the end of March. The Judge’s summary judgment decisions in the past have taken between 3-6 months to issue.”

In response to each other’s opposition to summary judgment motions, the SEC and Ripple filed redacted replies on Dec. 2. Stuart Alderoty, Ripple’s general counsel, said this was the last submission requesting judgment.