Ripple vs. SEC: While XRP Rallies, Attorney Deaton Says There Will Be No Settlement in The Next 2 Months

Deaton does not believe a settlement in the lawsuit is feasible in the next two months.

The Ripple vs. SEC lawsuit has been ongoing for more than one year, with the events wreaking havoc on the price of XRP. Ripple enthusiasts have continued to seek answers to know when the lawsuit may likely come to an end. While some legal experts suggest that the Ripple vs. SEC lawsuit may be concluded on or before March ending 2023, others have hinted at the likelihood that the class action may end sooner than expected via settlement. 

However, attorney John Deaton, the lawyer representing over 72,000 XRP holders in a class action against the SEC, does not see a settlement coming in the next two months. 

Attorney Deaton’s comment comes following the widespread inquiries by XRP holders to know whether a settlement is around the corner. 

“Many are asking about a settlement in the Ripple case. Some take everything they view as unusual as a sign of settlement (like Saturday’s filings),” Deaton said in a recent tweet, adding: “It’s not. Sorry, but I don’t believe there will be a settlement w/in the next 2 months, if ever. After the rules, we’ll see.” 

Deaton went on to say the comment is his opinion and should not be taken to heart because there is a possibility that he may be proven wrong at any time. 

“I will welcome [a settlement] if it is in #XRPHolders’ best interests,” attorney Deaton added. 

This is just my opinion and it doesn’t mean anything. I could be proven wrong tomorrow and, if I am, I will welcome it if it is in #XRPHolders’ best interests. My opinion on settlement shouldn’t be given any more weight than anyone else’s but b/c many are asking I am sharing it.

— John E Deaton (214K Followers Beware Imposters) (@JohnEDeaton1) September 20, 2022

Deaton’s Previous View About A Settlement 

This is not the first time Deaton will be commenting on a settlement in the Ripple vs SEC lawsuit. As reported by TheCryptoBasic, Deaton noted that if the SEC is compelled to surrender the drafts of William Hinman’s 2018 speech, the commission might be prompted to settle with Ripple rather than surrender the documents.  

XRP Records Huge Growth in Social and Market Activity

Meanwhile, XRP has been recording interesting feats since the parties filed their summary judgment motions over the weekend. The price of XRP is currently changing hands at around $0.415, up 16.2% in the last 24 hours. 

According to data shared by cryptocurrency social intelligence platform LunarCrush, XRP is ranked first out of the top 3,891 cryptos based on relatively combined social and market activity. Over the last 24 hours, XRP’s social engagement hit 29,421,599, while its social volume surpassed 9,566. 

Based on relative combined social + market activity, XRP has hit an AlternativeRank™ of 1 out of the top 3,891 coins across the market.

24-hour activity:
Price +9.78% to $0.3807
Social volume 9,566
Social engagements 29,421,599

Insights: https://t.co/W8OCqFgq6n$xrp #xrp pic.twitter.com/bJIVAyDab4

— LunarCrush (@LunarCrush) September 20, 2022

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