XRP hopes to rebound, pro-Ripple attorney John Deaton blames SEC for $15 billion in small investor losses

On Tuesday, XRP maintains above $0.5800 and prepares to rise over $0.6000.

Pro-Ripple Attorney John Deaton slammed the SEC in an interview.

XRP rises to $0.5860 today

Ripple (XRP) remains above $0.5800, a key support level, on Tuesday. The altcoin may rebound after project progress. XRP now prices at $0.5860.

In the SEC vs. Ripple litigation, attorney John Deaton was amici curiae, making his views crucial to XRP investors and traders.

In a YouTube interview with the Good Morning Crypto podcast, Deaton stated the SEC's cryptocurrency regulation in the Ripple litigation cost tiny crypto investors almost $15 billion.

Stuart Alderoty, Ripple's CLO, declared the SEC lawsuit's closure. Regulator apologized for confusing usage of “crypto asset securities.”

The SEC case against Ripple and Coinbase utilized the word, which Alderoty says misled judges into classifying cryptocurrencies as securities. The term has “no legal basis.”


One year after its July 2023 high of $0.9380, XRP has fallen. XRP rose over $0.5800 after hitting its 2024 bottom of $0.3823 on July 5.

XRP may recover to $0.6602, the 50% Fibonacci retracement level of the slide from July 2023's $0.9380 high to July 2024's $0.3823 low. XRP may rise 12.5% to reach its goal.

If XRP drops, the cryptocurrency may find support around the Fair Value Gap (FVG) between $0.5413 and $0.5556.

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