Major XRP Announcement this Week: What’s John Deaton About to Reveal?

John Deaton, the attorney who represents a significant number of XRP token holders in the ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), has teased a major revelation on the horizon. Deaton has clarified that this forthcoming announcement will not involve the initiation of a new lawsuit.

Instead, it may be related to unveiling crucial information concerning the ongoing legal battles in the cryptocurrency space.

What’s the Big Announcement?

Set to take place this Friday, Deaton’s announcement has ignited speculation within the community. Although he has made it abundantly clear that there will be no new lawsuit, there is a sense of anticipation that Deaton might feature a noteworthy guest during his weekly discussion on the CryptoLawTV YouTube channel. Some believe this guest could potentially be a whistleblower, possessing insider information that could significantly impact the cryptocurrency market.

The burning question on everyone’s mind is: Will Deaton divulge details about the Binance case? The SEC recently faced a minor setback in that case. Alternatively, could the revelation be related to Ripple’s Proper Party? At this juncture, we are left in the dark, but one thing is certain: Deaton has something substantial to unveil.

Could Binance v SEC Be in Focus?

This announcement arrives amidst growing attention on the Binance vs. SEC case, where the SEC has accused the exchange of uncooperativeness in providing crucial documents. In an intriguing twist, the judge has denied access to these documents and instead instructed the parties involved to explore alternative avenues for discovery. Deaton’s impending announcement carries significant weight within the XRP community, given his role as legal counsel for XRP holders in the Ripple vs. SEC lawsuit.

He has emerged as a prominent figure in the ongoing regulatory discussions surrounding the cryptocurrency industry. The community eagerly awaits what Deaton has to contribute to this high-profile case.

Slamming the NYDFS

In other developments, Deaton has criticized The New York Department of Financial Services (NYDFS) for removing XRP from its list of approved tokens, while approving BTC and ETH. He expresses concern that this action might lead to a decline in the XRP price, which could trouble investors. Additionally, broader market trends have already caused this altcoin to erase the gains it had achieved since mid-July. This underscores the volatility and regulatory sensitivity inherent in the cryptocurrency market.

As XRP hovers at $0.503, it is teetering on the verge of breaking the $0.505 threshold.