Ripple vs. SEC: Amicus Deaton Says Settlement Option Rests with SEC
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That said, Amicus Curiae in the lawsuit attorney John Deaton recently took to Twitter to highlight the possibility of a settlement plea by the regulatory watchdog with the defendants.
In his Twitter thread, Deaton explained that as he has narrated previously, the power to settle the lawsuit rests with the Commission. The Twitter thread also highlighted that it depends on the revelation of the Hinman speech documents, which the SEC has fought tooth and nail to keep out of evidence.
Deaton further explained that before going the settlement way, the SEC is waiting for other events to unfold before deciding. For example, if the organization receives a different-than-expected decision from the LBRY case, then it would opt for a settlement with Ripple and other involved defendants.
That said, Deaton opines that there’s unlikely to be a settlement unless this or another expectation plays out the Commission is unlikely to go for a settlement. Deaton added that he is an amicus in the lawsuit, and he is not in a better position to speculate on the case.
Meanwhile, both the defendants and SEC have filed a joint proposal for the nearing Summary Judgement.
Key Ripple Levels to Watch — September 12
After staging a bullish breakaway from its previous range, Ripple has fallen into yet another range-bound pattern between $0.3600 and $0.3500.
The cryptocurrency is expected to continue in this pattern until the Ethereum Merge, which is slated for September 15. The general expectation from the event is a bullish breakout for the cryptocurrency, which could spur a return to the $0.4000 mark.
Backing this upbeat possibility is the formation of a golden cross, a bullish pattern.
Meanwhile, my resistance levels are $0.3600, $0.3800, and $0.4000, and my support levels are $0.3500, $0.3400, and $0.3300.
Total Market Capitalization: $1.06 trillion
Ripple Market Capitalization: $17.5 billion
Ripple Dominance: 1.4%
Market Rank: #7
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