The post XRP Price Surges Higher Than Expected After SEC Case, Attorney Deaton Reacts appeared first on Coinpedia Fintech News
Amidst the fervor of post-major court rulings, John Deaton, the founder of Crypto-Law.US, has shared his unique perspective on how XRP’s price trajectory might unfold after pivotal court verdicts. According to Deaton’s forecast, XRP’s chances of regaining its former all-time high (ATH) of $3.40 are considerably less. He shared his thoughts on this matter through a tweet, highlighting his realistic approach to price predictions.
XRP Price Rally Falls Short Despite Favorable Court Ruling
While addressing the price dynamics of XRP following Ripple’s legal victories, Deaton openly admits that he never expected XRP to skyrocket to touch its previous all-time high (ATH) of $3.40, even following significant legal victories for the cryptocurrency. Instead, he had a more moderate expectation of XRP reaching the $1 mark.
Eventually, Deaton’s forecasting wasn’t limited to XRP; he also commented on Bitcoin’s price post-court rulings. Despite Bitcoin’s favorable court outcome, achieving an 8.4% increase in eight hours following Grayscale’s victory over the SEC, it didn’t align with Deaton’s prediction of a 10% to 15% surge.
Although, Bitcoin’s value surged from $25,964 to $28,142. As of now, Bitcoin is trading at around $27,335, displaying a 5.3% increase over the past 24 hours.
Deaton Anticipates XRP’s New ATH Tied on Bitcoin’s Success
Deaton’s distinct perspectives shed light on the complex dynamics of cryptocurrency price predictions, especially in the ever-volatile crypto landscape. His observations also underscore the interconnected nature of different digital assets.
As Deaton suggests, a new ATH for XRP might only occur after Bitcoin achieves a similar milestone. The ongoing bear market conditions and upcoming developments in the crypto industry will undoubtedly shape the validity of these predictions moving forward.