Ripple advocate, John Deaton has gone all in, placing a substantial bet on XRP’s value by flooding his crypto holdings with XRP tokens. This is despite the significant risks associated with the cryptocurrency due to its legal battle with the US SEC.
Deaton Pumps Crypto Portfolio With XRP Pro XRP Lawyer, John E. Deaton has stated in an X (formerly Twitter) post that he presently holds more XRP tokens than Ethereum in his crypto portfolio. The XRP advocate has decided to focus the majority of his holdings on Bitcoin (BTC), Ripple (XRP), and Ethereum (ETH), with Bitcoin being his most substantial investment among the three.
“To people’s surprise, back then, I owned 10X more in BTC than XRP and 3-4X more in ETH than XRP. Today, I still own more in BTC than XRP but now I own significantly more in XRP than I do ETH,” Deaton stated.
Deaton said that he has been an active supporter of XRP in the legal battle between the cryptocurrency and the United States Securities and Exchange Commission (SEC). Deaton also revealed that he had purchased more XRP tokens during the time the XRP was facing a reputation crisis from the SEC’s lawsuit. He mentioned that his strong support for cryptocurrency was due to his belief that XRP would win against the SEC and gain regulatory clarity.
“I did exactly what you’re not supposed to do when investing: I bet my heart. The more I fought the SEC, the more I bought #XRP. I became convinced we would win in court, plus it felt like I was betting on myself, along with my 75K friends, and since we were going against the bad guys, we would win,” Deaton stated.
Pro XRP Lawyer Bullish On XRP Role In Cross-Border Payments In an X post, Deaton asked several questions that evaluated Bitcoin as the best store of value, Ethereum as the best infrastructure play, and XRP as the best play on payments.
He emphasized how large the cross-border payment market was and how much XRP has influenced the global payment system.
Deaton expressed his confidence in XRP stating that he believed like Bitcoin, XRP would continue being a leading payments solution in the industry with a sustained growth trajectory in the crypto market.
“Clearly cross border payments is a massive market with the forex market being the largest financial market in the world. In sum, I think XRP will be around for the long-term and will appreciate in value considerably, by capturing a piece of the overall market share,” Deaton stated.
Token price struggles at $0.64 | Source: XRPUSD on Tradingview.com Featured image from The Daily Hodl, chart from Tradingview.com
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Scott Matherson Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.