Attorney John E. Deaton recently expressed suspicion about possible price manipulation involving the XRP token. This speculation arose following a tweet from Blockchain Daily, a cryptocurrency news outlet, which vaguely mentioned a meeting between Ripple and the SEC. Details regarding the nature of this alleged meeting have yet to surface.
The tweet prompted Deaton to question its validity, asserting that it’s unlikely the SEC and Ripple lawyers would set a meeting far in advance and then publicize it. He maintains that settlements only occur post-court judgment and, in this specific case, it’ll depend on Judge Torres’ ruling. Deaton highlights that a settlement would only be possible if Ripple secures a sizeable victory, enabling the SEC to claim a political win and save its Chair, Gary Gensler, from potential embarrassment.
However, Deaton believes Gensler is likely to face humiliation irrespective of the case’s result. As a consequence, the attorney suspects a deliberate attempt to artificially inflate the price of XRP might be at play. Currently, the token is valued at $0.4639, marking a 0.5% increase within 24 hours. Simultaneously, the 24-hour trading volume rose by 0.20%, as reported by CoinMarketCap.
This twist in the pivotal Ripple vs. SEC case raises eyebrows and adds a layer of caution for XRP enthusiasts. On the one hand, the possibility of an upcoming settlement looks promising for Ripple and XRP. On the other hand, the uncertainty surrounding the tweet’s legitimacy and the potential influence on XRP’s price may cause concern among potential investors.
The crypto community will inevitably debate the pros and cons of this development while eagerly awaiting confirmation regarding the supposed meeting. Ripple supporters might hope for a favorable court judgment and a subsequent settlement to alleviate regulatory concerns, paving the way for XRP’s mainstream adoption. Conversely, skeptics may view this bump in the road as a red flag, underscoring the unpredictable nature of the cryptocurrency world.
As intriguing as the prospect of resolution is, the elusive details surrounding this alleged meeting between Ripple and the SEC, combined with Deaton’s suspicions of calculated price manipulation, make the incident all the more captivating. As the plot thickens, experts and enthusiasts alike will undoubtedly keep a close eye on the evolving Ripple vs. SEC case and its potential impact on the ever-changing cryptocurrency landscape.