Attorney John E. Deaton has cited possible price manipulation of the XRP token after a tweet was published by Blockchain Daily, a platform that publishes news about cryptocurrencies.
Although the Tweet alluded to a meeting between Ripple and the SEC, no information about the nature of that meeting was provided.
The tweet from Blockchain Daily provided an exciting update on the groundbreaking case of Ripple vs. the SEC, over the XRP token and more.
Deaton questioned the reliability of this story in his reply. Deaton who bet that the information was false, points out that the SEC and Ripple layers might meet whenever they wish.
“I don’t think they would pick a date a week from now and then leak it out.”
Attorney John E. deaton
Deaton strongly emphasizes that a settlement only occurs after the court has made a judgment. In this particular instance, it will be decided by judge Torres.
He draws attention to the fact that this scenario will only occur if Ripple achieves a significant triumph. In this scenario, the SEC may be able to claim a political triumph, while SEC Chair Gary Gensler may be able to avoid embarrassment by settling.
Deaton: Gensler will be embarrassed
However, Deaton is convinced that Gensler will be humiliated regardless of the case’s outcome.
Because of these factors, Deaton is under the impression that this may be a calculated effort to inflate the price of XRP on the market artificially.
How ripple is performing today?
According to Coinmarketcap, the current price of XRP is $0.4639 representing an increase of 0.5% in 24 hours, as its 24-hour trading volume also increased by 0.20% over the last 24 hours according to CoinMarketCap data.