Fox Business
According to John Deaton, who is a layer and a proponent of XRP is convinced that judge's ruling on the case going between Ripple and Securities and Exchange Commission (SEC) will impact the crypto markets.
In his assessment, any ruling that comes in favor of Ripple will not only help XRP rally but other cryptocurrecies like Bitcoin and others will also follow suit.
XRP is native currency of XRP Ledger (XRPL) which is caimed by the Regulator as an unregistered security. Dealon is convinced of the significance and the outcome of the case for the broader crypto markets.
According to John Deaton, if the ruling goes in favor of Securities and Exchange Commission, the current momentum against the cryptos will only continue potentially hindering the industry growth in the United States.
Not to forget, Securities and Exchange Commission has heen cracking down on cryptos in recent months suing two of the largest crypto exchanges in the world Binance and Coinbase.
According to Cointelegraph, the judges presiding over Coinbase and Binance's lawsuits will likely watch the results of the Securities and Exchange Commission v Ripple case closely, crypto lawyers told Cointelegraph.
It will be interesting to see what the fate of the crypto industry will be after this ruling and how it is going to impact the crypto markets.
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