Pro-XRP Lawyer Reveals SEC Plans To Crush Crypto

It’s been just revealed the fact that an important pro-XRP lawyer John Deaton said recently that the big banks would attempt to swoop in and acquire vast pieces of the crypto market. This should happen after the U.S. Securities and Exchange Commission (SEC) hammers it down. Check out more details about all this below.

Deaton is the expert who represented XRP holders in Ripple’s lawsuit with the SEC. According to the latest reports, he says that once banking giants like JPMorgan and Goldman Sachs get their piece of the crypto pie, US officials will conveniently draw up a regulatory framework for the industry.

“Crypto isn’t dead. I will say this again: this is all about crushing the market and then, watch, JPMorgan and Goldman Sachs, etc. will get a bigger slice and then give Gensler a call, and then there will be some ‘framework’ worked out.”

Last week, the SEC brought some charges against both Coinbase and Binance.

Deaton said the fact that the charges are part and parcel of an ongoing anti-crypto agenda. It is also very important to mention the fact that this will ultimately end with large institutions buying up much of the industry.

“I’ve heard 50% of investing capital in the world is in the US. That’s a lot of influence. This war was always going to get worse before it got better. When the SEC sought a TRO (temporary restraining order) related to Binance’s assets, it signaled a DOJ (Department of Justice) case may be next. It’s part of the anti-crypto agenda.”

According to a well-known cryptocurrency trader, XRP is expected to experience a bullish trend and surpass Bitcoin (BTC) in performance, making it the sixth-largest digital asset.

An analyst known as Kaleo, who prefers to remain anonymous, has said that he foresees a bullish trend for XRP.

He noted that the cryptocurrency managed to successfully test its diagonal resistance, which has now become its support.