Prominent lawyer and supporter of XRP, the cryptocurrency created by Ripple, has criticized the U.S. Securities and Exchange Commission's (SEC) case against Ripple and its executives.

The SEC has accused Ripple of illegally selling unregistered securities in the form of XRP, leading to a legal battle that has been ongoing for several months. Ripple and its executives have vehemently denied the allegations, and many XRP supporters have rallied behind the company.

In a recent statement, attorney John Deaton, who has been leading a legal battle against the SEC on behalf of XRP holders, criticized the regulator's arguments, calling them "unfounded and absurd." Deaton argued that XRP is not a security, but rather a currency that is used for transactions on the Ripple network.

Deaton's comments come in response to a recent filing by the SEC, in which the regulator argued that Ripple's executives, including CEO Brad Garlinghouse, should not be allowed to access documents related to the regulator's internal discussions about whether XRP is a security. The SEC argued that such documents are irrelevant to the case, and that providing access to them would be burdensome and time-consuming.

(by Mike D.)