{"id":57530,"date":"2023-08-06T15:03:23","date_gmt":"2023-08-06T15:03:23","guid":{"rendered":"https:\/\/egrowonline.com\/?p=57530"},"modified":"2023-08-06T15:03:23","modified_gmt":"2023-08-06T15:03:23","slug":"xrp-price-disappoints-after-court-ruling-deaton-remains-optimistic","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=57530","title":{"rendered":"XRP price disappoints after court ruling, Deaton remains optimistic"},"content":{"rendered":"


\n
<\/p>\n

\n

Despite a brief rally, the XRP (XRP<\/a>) price did not reach anticipated levels after a recent favorable court ruling for the token. Among those with ambitious price targets for the cryptocurrency is pro-XRP lawyer John Deaton.<\/p>\n

Deaton addressed<\/a> a post from a user named Moon Lambo on X (formerly Twitter), who criticized complaints from certain investors about slow price gains in digital currencies year-to-date. Moon Lambo said XRP has grown by 85% this year, implying a positive overall trend.<\/p>\n

Several weeks have passed since Judge Analisa Torres delivered the highly anticipated ruling that XRP is not considered a security<\/a>\u00a0in certain circumstances. This decision caused a significant surge in the price of the cryptocurrency within the broader Web3<\/a> ecosystem.<\/p>\n

\n

It\u2019s all about expectations. Unless we were in a full bull market – led by #Bitcoin<\/a> – I never believed XRP would hit an ATH, even after a good ruling and I said that when asked about my expectations on price (although I did expect it to break $1 tbh). But until #Bitcoin<\/a> breaks\u2026 https:\/\/t.co\/alMOGfHne6<\/a><\/p>\n

\u2014 John E Deaton (@JohnEDeaton1) August 5, 2023<\/a><\/p><\/blockquote>\n

In response, Deaton stated that some users\u2019 disappointment stems from their expectations. While he didn\u2019t anticipate XRP reaching a new all-time high after the ruling, he did expect the price to surpass the $1 resistance level.<\/p>\n

However, neither of these scenarios unfolded despite the token experiencing a significant surge of over 70% following the ruling to hit $0.84.<\/p>\n

XRP reached its all-time high of $3.84 over six years ago. While surpassing that price level may be overly ambitious, Deaton remains optimistic that getting $1 is possible.<\/p>\n

Related: <\/em><\/strong>Ripple CEO slams SEC over the use of XRP report in lawsuit<\/em><\/strong><\/a><\/p>\n

However, the lawyer said it is linked to the price of Bitcoin (BTC<\/a>). Although not a market analyst, Deaton expressed his belief that unless BTC retests its all-time high, significant bullish momentum in the price of XRP is unlikely to be seen.<\/p>\n

XRP trades for $0.6283 at the time of writing.<\/p>\n

Magazine: <\/em><\/strong>Girl Gone Crypto thinks \u2018BREAKING\u2019 crypto news tweets are boring: Hall of Flame<\/em><\/strong><\/a><\/p>\n<\/div>\n


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite a brief rally, the XRP (XRP) price did not reach anticipated levels after a recent favorable court ruling for the token. Among those with ambitious price targets for the cryptocurrency is pro-XRP lawyer John Deaton. Deaton addressed a post from a user named Moon Lambo on X (formerly Twitter), who criticized complaints from certain […]<\/p>\n","protected":false},"author":1,"featured_media":57531,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[38],"tags":[3565,10555,7683,7693,195,738,4223,58],"class_list":["post-57530","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-court","tag-deaton","tag-disappoints","tag-optimistic","tag-price","tag-remains","tag-ruling","tag-xrp"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2023\/08\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDgvMjNlNzc5OWItMmQ0NS00ODY5LWIxNjQtN2VjZDZiYjVmYWQ5LmpwZw.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/57530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57530"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/57530\/revisions"}],"predecessor-version":[{"id":57532,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/57530\/revisions\/57532"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/57531"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57530"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}