As we approach a ruling in the United States Securities and Exchange Commission (SEC) case against Ripple, speculations about its potential implications on the price of XRP have soared. In a tweet yesterday, Attorney John E. Deaton, who represents thousands of XRP holders as a friend of the court in the extended legal battle, lent his voice to these speculations.

According to the CryptoLaw founder, the asset has an attractive risk-to-reward potential in light of the impending ruling on so-called summary judgment. The ruling is expected in the next few weeks. It could even come this week, Deaton said. The attorney believes there is not much downside in XRP price if Ripple loses as the firm would appeal as they have alluded to, and we would maintain the status quo. However, he is optimistic that there could be some significant upside in XRP price if the asset classification becomes clear and Ripple obtains a favorable outcome.

(By OKOYA DAVID)