- Attorney John Deaton reflects on his accurate prediction that XRP itself would not be classified as a security.
- XRP’s price surges past $3 for the first time since 2018.
- Deaton credits FOX News coverage for raising public interest and reassuring XRP holders during the lawsuit.
In a post on X today, pro-XRP attorney John Deaton looked back on his bold prediction regarding XRP’s legal status during the Ripple lawsuit as the token approaches an all-time high.
He reminded the crypto community that, as amicus counsel in the Ripple case—representing 75,000 XRP holders—he received over 1,000 emails from concerned individuals. They were asking if they should sell XRP due to fears that Judge Analisa Torres might classify it as a security.
Deaton’s Early Prediction in XRP Lawsuit
Deaton noted that many people reaching out had their life savings or retirement funds tied up in XRP, which understandably caused distress. He explained that while he couldn’t provide specific financial advice, he consistently told these individuals that he was confident Judge Torres would rule that XRP itself was not a security.
He also noted that even if Judge Torres determined that Ripple’s sales of XRP in the early years (2012–2015) constituted the sale of unregistered securities, XRP itself would not be classified as a security.
Deaton even made this prediction on Fox Business News. He stated that the SEC would lose the case, although Ripple might not get a complete victory.
Prediction Materializes with Ripple’s Partial Victory
Remarkably, this prediction proved to be accurate. In July 2023, Judge Torres ruled that XRP itself is not a security. The development triggered a surge in XRP’s price to $0.93 shortly afterward.
The court also found that Ripple’s initial sales of XRP to institutions were unregistered securities. This gave the SEC their fair share of the partial win.
In August 2024, Judge Torres handed down a final ruling, fining Ripple $125 million for the violations related to those earlier sales. The ruling also allowed both parties the opportunity to file appeals.
XRP Price Surge and Gensler’s Resignation
Notably, the lawsuit significantly impacted XRP’s price performance over the past five years, with many exchanges delisting the token due to legal uncertainty.
Meanwhile, SEC Chairman Gary Gensler, who had been leading the case against Ripple, announced his resignation in November 2024 once the presidential election results were out; with Donald Trump as the incoming President.
His departure news fueled the price of XRP, which now surged by 491%, from $0.49 to $2.87 between November and December, before retracing slightly.
As of January 2025, XRP is now trading above $3 for the first time since 2018, marking a seven-year high.
Deaton Extends Gratitude and Reflects on the Journey
Reflecting on this price surge, Deaton expressed gratitude for his appearance on Fox Business News. He acknowledged the support from journalists like Eleanor Terrett, Charles Gasparino, Liz Claman, Cheryl Casone, and Charles Payne.
He emphasized that the on-air coverage helped demonstrate the public’s strong interest in Judge Torres’ decision and offered reassurance to those following the case.
He concluded by noting that, regardless of personal opinions on Ripple or its leadership—Brad Garlinghouse, Stuart Alderoty, Chris Larsen, and David Schwartz—those who have followed the case closely and read some of the heartfelt emails he received would be happy for the individuals who held onto their XRP through it all.
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