John Deaton expressed doubt about the strength of the SEC’s appeal against Ripple, noting that Judge Torres previously ruled in favor of Ripple, citing the SEC’s failure to meet certain legal standards.
With support from more than 75,000 XRP holders, Ripple has a robust backing. Deaton believes this community support will influence the appeal’s outcome, especially if the case advances to the Second Circuit Court.
Deaton also mentioned that certain SEC officials are considering the possibility of dropping the case entirely, which could signify a shift towards recognizing XRP as a legitimate cryptocurrency.