XRP Prices Drop as Ripple Lawsuit Attorney Reiterates Utility Token Status

According to CryptoPotato, XRP token prices experienced a decline during the week ending November 18, falling from $0.72 to $0.61. Amidst the price fluctuations, attorney John Deaton, known for his involvement in the XRP case, reiterated that XRP is a utility token at its core. Deaton expressed confidence in Ripple Labs' case, stating that Judge Torres would make it clear that XRP is not a security. He also emphasized the importance of the rule of law in the Ripple lawsuit, regardless of personal opinions about the defendants. However, not everyone agrees that the SEC will back down or lose the Ripple Lawsuit to the San Francisco-based tech company. Fox Business senior correspondent Charles Gasparino said that Ripple's victories are temporary and that XRP holders have only 'won' for now. The Ripple lawsuit is set for a full trial in the U.S. Circuit Court Southern District of New York in April. If the SEC's lawsuit against Ripple Labs is not resolved by trial in the SDNY court, it may end up on the Supreme Court's docket. Both the SEC and Ripple CEO Brad Garlinghouse appear willing to take the fight to the nation's high court.