Fox Business Journalist Attacks US Judge Torres Ruling on XRP, Deaton Reacts

US Pro-XRP lawyer John Deaton recently defended Judge Analisa Torres' ruling on the classification of XRP, claiming it is very sound.

The Deaton Law Firm Managing Partner said this in response to Fox Business' Senior Journalist Charles Gasparino's post on Twitter concerning Judge Torres' ruling in the Ripple vs. SEC lawsuit.

While Gasparino's efforts were aimed at trolling the XRP community, John Deaton defended the Judge and the XRP community against the claims.

FIRST ME - NOW

I've been fighting tribalism and echo chamber politics for the last three years. In 2013 SEC Officials were calling #Bitcoin a security. Unfortunately for me and my family, I wasn't aware of #Bitcoin in 2013. Where was @maxkeiser when I needed him the most? https://t.co/GAKa4JV37S

- John E Deaton (@JohnEDeaton1) July 24, 2023

Gasparino Attacks XRP Army

The senior correspondent at Fox Business, Gasparino, pointed out one of Judge Analisa Torres's previous rulings on Twitter.

In 2021, New York Post announced that Judge Torres had dismissed the case against a notable gang member because the grand jury that indicted the alleged gang member was not subversive enough."

Alongside the link, Gasparino wrote about other rulings of the Ripple army's saint patron. His tweet was one of his recent attempts to troll Ripple's XRP community after the blockchain giant's partial victory against the United States Securities and Exchange Commission (SEC).

Remember that, on July 13; Judge Torres ruled that XRP token sales on cryptocurrency exchanges to retail traders are not securities.

Moreover, her ruling has attracted several negative reviews from securities lawyers globally. Many are even of the opinion that the higher court will default her ruling.

Gasparino announced this in a recent tweet, where he mentioned that all securities lawyers he had spoken to believe that the Ripple win will not hold in the appeal.

Deaton Backs Up Judge Torres' Conclusion

Interestingly, Gasparino's criticism of Judge Torres' stance on the XRP case stirred up various reactions from the XRP community.

However, a United States lawyer and Ripple Enthusiast, John Deaton, joined other Ripple pundits to defend Judge Torres' ruling on the case, noting that it is extremely sound.

According to the lawyer, many newbie investors purchased XRP tokens without knowing Ripple. He added that many didn't know that Ripple owned 50% of the overall XRP in circulation or sold the tokens to banks and other financial institutions.

Thus, he believes that the Judge acted rightly in her ruling on XRP secondary market sales because it won't be possible for buyers to anticipate profit from a firm they are unaware of.

He added that most first-time buyers only bought the coin because they recognized its position as one of the top three crypto assets in the market to invest in. In addition, transactions occur between 3-5 seconds of purchase, in contrast to Bitcoin, which takes between 10 minutes to one hour to occur.

According to Deaton, several thousands of XRP holders ventured into the coin for non-investment purposes.He also shared a previous prediction that Judge Torres would rule that Ripple's token isn't a security.

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