Despite a recent court ruling that was anticipated to be favourable for XRP, the cryptocurrency’s price has not reached the expected heights. This has left some digital currency investors, who had high hopes for a significant boost in the XRP price, feeling disappointed. However, pro-XRP lawyer John Deaton maintains a positive outlook.
Reactions to the Court Ruling
Several weeks have passed since Judge Analisa Torres delivered a ruling that, under certain circumstances, XRP would not be classified as a security. This decision resulted in a significant rise in XRP’s price within the broader Web3 ecosystem. Nonetheless, the price surge fell short of the predictions of many, including Deaton, who had anticipated the price to break the $1 resistance level following the court ruling.
Addressing a post from a user named Moon Lambo on X (formerly Twitter), who criticized some investors for lamenting the sluggish year-to-date price gains in digital currencies, Deaton stated that such disappointment stems from unrealistic expectations. Moon Lambo highlighted that XRP has seen an 85% growth this year, indicating an overall positive trend.
Deaton’s Outlook on XRP Price
Despite not seeing the price breakthrough he’d anticipated, Deaton remains optimistic about XRP’s potential. He believes that while surpassing the all-time high of $3.84, achieved over six years ago, may be overly ambitious, reaching $1 is still feasible. However, he also notes that this is closely tied to the price movements of Bitcoin.
According to Deaton, who, while not a market analyst, has expressed his insights on the matter, significant bullish momentum for XRP is unlikely unless BTC retests its all-time high. At the time of writing, XRP trades at $0.6283.
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