[XRP News] Pro-Ripple Lawyer John Deaton Criticizes Sam Bankman-Fried Pardon Theory
As cryptocurrency markets experience volatility, prominent figures in the crypto legal community are engaging in intense debates regarding the collapse of major exchanges and the accountability of their leaders. John Deaton, a well-known pro-Ripple attorney, recently delivered pointed criticism on the emerging discourse around potential clemency for Sam Bankman-Fried (SBF), the disgraced ex-CEO of FTX.
John Deaton Refutes Optimistic Views on FTX’s Collapse
The discussion began following statements from Sam Bankman-Fried himself, who shared charts predicting that if FTX had not collapsed in November 2022, its net asset value (NAV) would have surged to approximately $78 billion by 2025. SBF suggested that FTX’s assets, alongside the broader crypto market, would have experienced explosive growth.
However, John Deaton strongly challenged this narrative. He emphasized that the court-confirmed facts and the actual losses suffered by creditors take precedence over speculative, assumption-based financial models. Deaton highlighted a critical point: much of SBF’s projected asset value relies heavily on illiquid tokens, making these optimistic valuations questionable.
Deaton framed this issue as one of accountability, underscoring that personal investor losses cannot be mitigated through after-the-fact reassessments or hypothetical scenarios.
Ripple Community Resonates with Deaton’s Law-and-Order Stance
While Deaton’s comments do not directly relate to the fundamentals or legal matters of XRP, his role in the ongoing litigation between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has granted him considerable influence within the XRP community. Many Ripple supporters align with Deaton’s commitment to rule of law and anti-corruption principles, mirroring the community’s desire for fairness and transparency in the crypto space.
XRP Price Outlook: Will the Market React?
XRP recently broke above its descending price channel—a technical pattern signaling a potential shift after weeks of lower highs. Despite this breakthrough, the coin faced resistance near $1.61 and experienced a retracement, now retesting the breakout level.
Traders view this as a critical juncture. Should XRP fail to maintain above the channel and return inside its descending range, the breakout may be deemed a “fakeout,” potentially opening the door for a decline toward $1.30 or lower, with $1.10 as a more bearish target.
Conversely, if XRP sustains above prior resistance-now-turned-support and rebounds, it could renew its climb toward $1.61 and, with further momentum, aim for the $1.90 mark. Analysts, however, caution that such optimism might be premature.
Spotlight on Maxi Doge: A Meme Coin Gaining Attention
In other news, Maxi Doge ($MAXI) is emerging as a meme coin to watch in 2026, distinguishing itself by openly embracing its lack of utility. Its focus on narrative velocity, strong community momentum, and appeal to speculative investors sets it apart from slower-moving institutional plays.
The project has raised approximately $4.6 million in its presale phase, offering early backers staking rewards with an annual percentage yield (APY) as high as 68%. Maxi Doge aims to capitalize on the market’s shifting interest and heightened volatility, seeking quick growth driven by its passionate community.
Current Market Snapshot
As of the latest update:
- Bitcoin (BTC): $63,278.62 (-4.68%)
- Ethereum (ETH): $1,826.51 (-4.88%)
- Solana (SOL): $76.95 (-4.13%)
- Binance Coin (BNB): $591.39 (-2.62%)
- XRP: $1.33 (-4.28%)
- Dogecoin (DOGE): $0.091 (-5.21%)
- Shiba Inu (SHIB): $0.0000059 (-3.25%)
- Pepe (PEPE): $0.0000039 (-3.84%)
The broader cryptocurrency market cap currently stands at approximately $2.28 trillion, down over 4% in the past week amid ongoing market volatility.
About the Author
Robert Jang is a seasoned crypto content creator at CryptoNews with a background that includes completing MIT’s blockchain coursework. His experience spans asset management and fintech startups, equipping him to provide in-depth, factual reporting on the evolving crypto landscape. Previously, he contributed to The Korea Herald, focusing on cryptocurrency developments.
Disclaimer
This article is for informational purposes only and should not be construed as investment advice. Due to the volatile nature of cryptocurrencies, readers are encouraged to conduct their own research before making investment decisions.
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Sources: CryptoNews, TradingView, Official Maxi Doge channels