Renowned Lawyer John Deaton Shares Insights on XRP Price Potential and Portfolio Shift

John Deaton

John Deaton, a well-known advocate for XRP, has recently offered valuable insights into his cryptocurrency investment strategy and discussed the factors that he believes will drive the future value of XRP. In a notable revelation, Deaton shared his updated crypto portfolio and explained the reasons behind his growing allocation to XRP.

Deaton’s Crypto Portfolio Transformation

In a recent tweet, Deaton reflected on the transformation of his crypto holdings over the past two years. During the early stages of the legal battles between Ripple and the U.S. Securities and Exchange Commission (SEC) in 2021, he revealed that his portfolio consisted of Bitcoin (BTC), Ethereum (ETH), and XRP.

During that period, Deaton’s allocation was heavily skewed towards Bitcoin, with him holding ten times more BTC than XRP and Ethereum, with about four times more ETH than XRP.

However, in a surprising turn of events, Deaton disclosed that he has significantly increased his XRP holdings, surpassing his Ethereum holdings. He attributed this shift to his unwavering belief in XRP’s potential for substantial growth, driven by his conviction that Ripple would ultimately prevail in the legal battle against the SEC.

Deaton candidly acknowledged that his investment decisions defied conventional wisdom, as he allowed his conviction to guide his choices. He confessed to acquiring more XRP as he grew increasingly confident in the legal case against the SEC and referred to those opposing the case as the “bad guys.”

Related article: XRP $18 Price Surge And $997B Market Capitalization

Critical Evaluation of Major Cryptocurrencies

In addition to discussing his investment decisions, Deaton raised pertinent questions about the prevailing sentiment surrounding the three major cryptocurrencies: BTC, ETH, and XRP.

He emphasized Bitcoin’s role as the premier store of value, foreseeing its enduring presence and envisioning its market capitalization surpassing that of gold, with a potential value exceeding $500,000 per coin.

XRP Position in the Cross-Border Payments Market

On the other hand, Deaton sees XRP as the ideal solution for the payments sector, particularly in cross-border transactions. To support his stance on XRP, he provided compelling statistics related to the cross-border payments market.

Deaton pointed out that in 2021, customer payments to businesses in cross-border transactions reached a staggering $2.8 trillion. Additionally, business-to-business intercontinental payments amounted to over $150 trillion in the same year. He further noted that the global payment sector has already witnessed transactions totalling $190 trillion this year, with authoritative sources suggesting that cross-border payments could surge to $290 trillion by 2030.

Deaton’s Conviction in XRP’s Future

In light of these insights, Deaton expressed his unwavering belief in XRP’s potential. He emphasized that with XRP capturing a portion of the multi-trillion dollar cross-border payments market, the digital asset is well-positioned for long-term growth and substantial value appreciation.

Nevertheless, Deaton made it clear that he does not share the overly optimistic price forecasts of confident XRP analysts. Nevertheless, he lightheartedly expressed his willingness to celebrate should these predictions prove him wrong.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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