As XRP reaches a seven-year high, trading above $3 for the first time since 2018, pro-XRP attorney John Deaton revisited his earlier prediction about the token’s legal status during Ripple’s lawsuit.
Deaton, who served as amicus counsel in the Ripple case and represented 75,000 XRP holders, took to social media to share his thoughts on the milestone and the journey leading up to it.
Deaton revealed that he received over 1,000 emails from XRP holders during the lawsuit, many of whom were anxious about their investments. With some having tied their life savings or retirement funds to XRP, concerns mounted over whether Judge Analisa Torres would classify the token as a security.
While Deaton refrained from offering financial advice, he assured those individuals of his confidence that XRP would not be ruled as a security.
Also Read: Ripple CEO Criticizes SEC Chair Amid Latest Filing in XRP Appeal Case
Deaton’s Bold Prediction and Ripple’s Partial Victory
Deaton maintained his belief that Judge Torres might find Ripple’s early XRP sales (from 2012 to 2015) unregistered securities but was confident that the token would not be classified as such. He even publicly made this assertion on Fox Business News, predicting that the SEC would lose the case, though Ripple might not secure a complete victory.
His prediction materialized in July 2023 when Judge Torres ruled that XRP is not a security. However, Ripple was found liable for unregistered securities violations related to its early institutional sales of XRP. The company was later fined $125 million for these infractions in a final ruling issued in August 2024, allowing both parties to appeal.
The court’s decision led to a surge in XRP’s price, which rose to $0.93 shortly after the ruling. This marked the beginning of XRP’s climb to its current price levels, demonstrating the token’s resilience despite years of legal uncertainty.
XRP Price Surge Fueled by Ripple’s Legal Success and Market Optimism
XRP’s price performance has been closely tied to market sentiment and regulatory developments after the lawsuit. SEC Chairman Gary Gensler, who had been leading the case against Ripple, announced his resignation in November 2024 after the presidential election results declared Donald Trump as the incoming president.
News of Gensler’s departure catalyzed XRP’s meteoric rise, with the token’s price increasing by 491%, from $0.49 to $2.87, between November and December 2024. As of January 2025, XRP is trading above $3, reflecting renewed optimism among investors and marking its highest price since 2018.
Gratitude and Reflection Amid XRP’s Milestone
Reflecting on the price surge and his role in the case, Deaton expressed gratitude for his opportunity to speak about the lawsuit on Fox Business News. He credited journalists like Eleanor Terrett, Charles Gasparino, and Cheryl Casone for amplifying public interest in the case and reassuring XRP holders.
Deaton also acknowledged the perseverance of those who held onto their XRP investments throughout the legal battles. Regardless of opinions about Ripple’s leadership, Deaton highlighted the human stories of those who endured the challenges, celebrating the moment for them.
Conclusion
XRP’s price resurgence underscores the significance of Ripple’s partial legal victory and broader implications for the cryptocurrency market. With Deaton’s accurate prediction now validated, the journey serves as a testament to the resilience of XRP holders and the growing influence of digital assets in the financial landscape.
Also Read: Ripple Lawsuit Update: SEC Yet to Submit Opening Brief as Deadline Looms
