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Altcoin News- In 2016, John Deaton bought his first XRP coins after seeing the currency’s potential for use in international transactions.
- Deaton denied the allegations of lying and said he had invested in Bitcoin, Ethereum, and XRP in 2016.
- In light of the Chinese Yuan’s recent surpassing of the U.S. dollar, Deaton thinks XRP could emerge as a competitive alternative for international trade.
Legal conflicts with the SEC over whether XRP is a security have caused market volatility for Ripple’s token. Despite this, John Deaton, founder of CryptoLaw, is certain that XRP will be adopted for international transactions.
Good thing I don’t care what you think. But if you’re interested go back to my 1st interview: I said I bought BTC ETH and XRP in 2016. I also said that I personally didn’t lose any money on XRP when I filed the case 🆚 the SEC when guys like you called me a disgruntled investor.
— John E Deaton (@JohnEDeaton1) April 26, 2023
His market expertise and familiarity with digital currency may have influenced his decision to increase his XRP holdings this year. Deaton recently responded to the news that the Chinese Yuan has replaced the U.S. dollar as China’s preferred currency for international trade with a succession of tweets.
He maintained his 2016 investments in Bitcoin, Ethereum, and XRP while discussing the significance of cryptocurrencies to the global economy. Because of its potential use in international transactions, Deaton bought his first XRP tokens in 2016.
He noted that whereas China is decreasing its demand for banknotes, the United States is opposing cryptocurrency rather than embracing it. This indicates that Deaton thinks XRP could one day be used for international trade turning positive for the currency’s value.
Prognosis For XRP And Its Increasing Usage
The future of XRP is bright despite the uncertainty of the cryptocurrency sector. The rising value of XRP is anticipated over the next few years due to its increasing adoption and application in international payments and settlements. The recent earnings in the United States and the upcoming vote on the debt ceiling have XRP bulls hoping for a recovery to $0.48.
John Deaton’s confidence in XRP stems from his extensive market experience. XRP is still a significant commodity for international settlements and payments despite recent market volatility and legal disputes with the SEC. The fact that more and more people are using it gives hope for its future.
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Source: https://thenewscrypto.com/john-deatons-bullishness-on-xrp-despite-market-volatility-and-litigation/