John Deaton, an Attorney, Predicts That SEC Will Lose the XRP Lawsuit

The legal conflict between the SEC and Ripples has been ongoing for quite some time; however, XRP seems resilient, as it keeps rallying in fractals. This is a result of the growingly encouraging news and viewpoints coming from the crypto community. Attorney John Deaton has alleged that the Securities and Exchange Commission is more focused on controlling the growing market than upholding the law.

This was said in his support of Ripple winning the legal case filed against it by the Security and Exchange Commission. Deaton expanded on his implication in his tweet. He argued that the fact that Ripple never denied that they offered and sold XRP in exchange for fiat money sufficed as proof that the investment part of the Howey test was met. The Howey test is a specific method used by the U.S. Supreme Court to determine if a transaction is an investment contract or not.

Key XRP Levels To Watch – February 21

Following the Stop Hunt candle that was used to grab sell-side liquidity below the relatively equal lows, XRPUSD has been in a bullish environment, though with very low momentum. The relatively equal lows were formed at the 0.3200 price level.

According to the Moving Average Convergence Divergence (MACD), the price was descending from an extremely high value only to hit the 0.3000 price level. XRPUSD is currently rallying in fractals as the bears keep exiting the market. The market environment, however, is expected to remain bullish, as the mitigation block recently pushed prices higher.

XRP Key Levels

Resistance Levels: $0.5600, $0.5100, $0.0.4200
Support Levels: $0.3000, $0.2400, $0.1700

Total Market Capitalization: $1.12T
XRP Market Capitalization: $19.89B
XRP Volume: $1.37B
Market Rank: #6

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