XRP continues to face legal scrutiny despite recent institutional gains, with attorney John Deaton defending it against claims of being a scam. The SEC’s treatment of XRP is called into question, particularly in light of a new lawsuit categorising XRP as an unregistered security alongside other tokens. Despite these challenges, XRP futures trading is set to launch soon, showing institutional interest.
The ongoing debate surrounding XRP continues to intensify, coinciding with its recent institutional progress. Ripple’s long-standing legal challenges resurface as significant scrutiny clouds the altcoin’s future. Notably, attorney John Deaton, who has been a vocal figure in the Ripple versus SEC litigation and represents XRP holders, responded sharply to a critic on X who labelled XRP a scam, while endorsing Bitcoin and Ethereum as the sole legitimate cryptocurrencies.
Deaton’s rebuttal went beyond simply defending XRP; it also addressed broader concerns regarding regulatory equity in the cryptocurrency sphere. He argues that dismissing XRP merely because it’s not a personal favourite overlooks the fundamental issues regarding the SEC’s classification criteria. His stance highlights that the question isn’t about personal preferences towards XRP, but the implications of how regulations are enforced against it.
In Deaton’s view, categorising all XRP transactions as securities, irrespective of their context, undermines principles of market freedom. He’s not anti-Bitcoin either, revealing that a significant 80% of his wealth is invested in BTC. His critique of the SEC is rooted in concerns about the integrity of regulatory practices and whether they serve as fair enforcement tools or are wielded as punitive measures.
Amid these discussions, XRP recently achieved a notable success with the announcement from CME regarding XRP futures trading, slated to commence on May 19, 2025. This development suggests that institutional interest in XRP may be increasing. However, this positive trajectory is tempered by fresh legal challenges facing the altcoin.
XRP has been named as an unregistered security in a new lawsuit against Coinbase, brought forth by Oregon Attorney General Dan Rayfield. This lawsuit does not single out XRP, as it also implicates other prominent tokens like ADA, AVAX, AAVE, UNI, and LINK. Justin Slaughter from Paradigm drew attention to this legal move, while Coinbase has dismissed the allegation as mere regulatory overreach disguised as law enforcement.
