XRP Legal Battle Intensifies as Pro-XRP Lawyer Sues Linqto Over Alleged Fraudulent Stock Sales

In a significant development for the XRP community, prominent crypto lawyer and XRP advocate John Deaton has filed a lawsuit against Linqto, accusing the platform of fraudulent practices in the sale of Web3-related company stocks. The lawsuit, filed on July 11, 2025, alleges that Linqto employed misleading tactics and imposed unjustified 60% markups on shares of Ripple, Kraken, and other major crypto firms. Deaton aims to recoup investor losses and expose potential criminal misconduct, marking a pivotal moment in the ongoing scrutiny of crypto-related financial practices. This case, while indirectly related to XRP's market performance, underscores the growing legal challenges facing the cryptocurrency industry. As the lawsuit unfolds, it could have far-reaching implications for investor protection and regulatory compliance in the digital asset space. The XRP community and broader crypto market will be closely watching this case, as it may set important precedents for how crypto-related securities are handled in the future.

Pro XRP Lawyer Sues Linqto Founder over Unlicensed Crypto Stock Sales

John Deaton, a prominent crypto lawyer and XRP advocate, has filed a lawsuit against Linqto, alleging fraudulent practices in the sale of Web3-related company stocks. The suit claims Linqto employed misleading tactics and imposed unjustified 60% markups on shares of Ripple, Kraken, and other crypto firms. Deaton aims to recoup investor losses and expose potential criminal misconduct.

The case, while indirectly related to the crypto industry, highlights regulatory gray areas in private securities offerings. Linqto allegedly created misleading exemptions to sell unregistered securities, targeting investors seeking exposure to pre-IPO crypto companies. Deaton's involvement follows his high-profile participation in the SEC v. Ripple case and his political challenge against Senator Elizabeth Warren.

Market observers note the lawsuit could set precedents for secondary market transactions of private crypto company shares. The complaint will be discussed in a public forum on X, with documentation published via Deaton's CryptoLawUS channel. Settlement terms, if any, will be scrutinized for investor restitution models.

Analyst Predicts XRP Could Surge to $1,000 Sooner Than Expected

Crypto analyst BarriC has sparked Optimism in the XRP community with a bold prediction that the token could skyrocket from its current $2 level to $1,000 faster than anticipated. Drawing parallels to XRP's 2017 rally from $0.006 to $3.40, BarriC suggests investors may be underestimating the asset's potential for rapid appreciation.

XRP's recent quarterly close above $2.25 has built momentum, with many investors eyeing new all-time highs. The current price action mirrors early accumulation phases seen before previous parabolic moves. "People buying XRP at $0.006 in 2017 weren't expecting it to skyrocket to $3," BarriC noted, implying similar surprise potential exists today.

Ripple CEO Urges US Lawmakers to Prioritize Crypto Market Structure Legislation

Brad Garlinghouse, CEO of Ripple, testified before the US Senate today, advocating for the urgent passage of market structure legislation for digital assets. He emphasized that such regulation WOULD solidify the US as the global leader in cryptocurrency innovation and adoption.

The US possesses unparalleled advantages—deep capital markets, top-tier technical talent, and a culture of innovation. With over 55 million Americans already participating in the crypto economy, representing a $3.4 trillion market, Garlinghouse argued that regulatory clarity is long overdue. "A smart framework will unleash US competitiveness and streamline financial transactions," he stated.

Garlinghouse outlined Core principles for effective legislation: consumer protection against fraud, proper market oversight, accountability for bad actors, and room for innovation to thrive. The absence of these measures, he warned, risks ceding leadership to other jurisdictions.

XRP Prices Hit 7-Week Peak as Whale Accumulation Signals Further Gains

XRP surged to $2.40, marking its highest level since late May, as altcoins broadly outperformed with 24-hour gains up to 5%. The rally coincides with growing whale activity, with wallets holding ≥1M XRP reaching a record 2,743.

Market observers attribute the momentum to macroeconomic tailwinds, including potential Federal Reserve rate cuts advocated by former President Trump. Risk assets stand to benefit from looser monetary policy.

The cross-border token has rebounded 25% from its June low of $1.90, demonstrating resilience amid geopolitical tensions. Santiment data confirms sustained accumulation by large holders, with 2,742 million-XRP wallets still active NEAR all-time highs.

Ripple Advocate Files Securities Fraud Suit Against Former Linqto CEO

Prominent XRP advocate John E. Deaton has initiated a securities fraud class action against William Sarris, former CEO of Linqto, on behalf of retail investors. The lawsuit alleges Sarris orchestrated a multi-year scheme involving undisclosed markups as high as 60% and unlicensed sales tactics to peddle shares in private companies including Ripple and Kraken through Linqto's platform.

Internal legal memos from 2023-2024 reportedly warned Sarris about violations of SEC and FINRA rules, including operating as an unregistered broker-dealer. The filing comes amid Linqto's bankruptcy proceedings, though Deaton emphasizes the suit targets Sarris personally and isn't subject to bankruptcy protections.

This follows an October 2024 lawsuit by former Linqto executive Gene Zawrotny that raised similar compliance concerns. Deaton vows to direct any settlement funds toward compensating affected investors.

XRP Price Flashes Bullish Continuation Signals — $3 Surge Possible

XRP is reclaiming critical support levels and exhibiting a textbook breakout structure, drawing renewed market attention. Analysts point to building momentum and aligned bullish signals as groundwork for a potential Wave 3 surge that could propel the token beyond $3.

CasiTrades, a prominent crypto analyst, highlighted XRP's recent price action in a detailed July 7 analysis. The token has completed a consolidation phase and reclaimed the $2.25 level—the apex of a multi-month Symmetrical Triangle pattern. This level coincides with the 0.382 Fibonacci Retracement, now acting as support after a brief downside fake-out.

Currently trading above $2.30, XRP faces local resistance. A confirmed breakout could validate the bullish continuation pattern and set the stage for significant upside. The analysis suggests technical conditions are ripening for a powerful advance, with $3 emerging as a plausible target if key levels are breached.