Expert Explains Why XRP Price Will Rise with Time, Says He Now Holds More XRP Than Ethereum

Renowned pro-XRP lawyer John Deaton has shared reflective insights into his crypto investment strategy and elaborated on factors to drive XRP’s future value.

Deaton XRP Portfolio Two Years Ago

In a recent tweet, Deaton noted a remarkable shift in his crypto portfolio. He highlighted that amid the initial stages of the legal battles against the SEC in 2021, he owned Bitcoin (BTC), Ethereum (ETH), and XRP. 

In particular, the lawyer stated that at that time, he held ten times more BTC than XRP and about four times more ETH than XRP.

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However, in surprising twists, Deaton disclosed that he now owns significantly more XRP than ETH, a decision fueled by his conviction that XRP is poised for substantial growth.

Moreover, Deaton admitted to defying conventional investment wisdom. The lawyer consented that his investment strategy was led by his heart as he fought against the SEC. He disclosed buying more XRP as he became more convinced of a legal victory against the “bad guys.”

Meanwhile, Deaton posed critical questions about the sentiment surrounding the three major cryptocurrencies. He pondered whether presumptions towards BTC, ETH, and XRP remain unchanged.

He asserted that Bitcoin has established itself as the premier store of value. In parallel, he highlighted his belief in Bitcoin’s lasting presence, envisaging its growth to surpass gold’s market cap and reach over $500,000 per coin.

 

Factors to Shoot Up XRP Overtime

On the other hand, Deaton sees XRP as the ultimate play on payments, particularly in the cross-border payments market. Backing his stance on XRP, Deaton presented compelling statistics about the cross-border payments market.

The lawyer cited that the volume of customer payments to businesses in cross-border transactions stood at $2.8 trillion in 2021. Likewise, business-to-business intercontinental payments totaled over $150 trillion in the same year.

Furthermore, he noted the global payment sector has already seen transactions worth $190 trillion this year. Meanwhile, authoritative sources have projected cross-border payments will explode to $290 trillion by 2030.

 

Therefore, Deaton expressed his conviction in XRP. He noted that with XRP claiming a fraction of the multi-trillion dollar market, the digital asset is poised for long-term presence and substantial value appreciation.

 

However, he clarified that he does not subscribe to the astronomical price predictions by XRP analysts. Yet, he humorously notes that he would gladly celebrate if proven wrong.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Source: https://thecryptobasic.com/2023/11/09/expert-explains-why-xrp-price-will-rise-with-time-says-he-now-holds-more-xrp-than-ethereum/?utm_source=rss&utm_medium=rss&utm_campaign=expert-explains-why-xrp-price-will-rise-with-time-says-he-now-holds-more-xrp-than-ethereum