• Wed. Jul 17th, 2024

Ripple’s John Deaton Gives Unusual Financial Insight To Cryptocurrency Community

Maria Bartiromo

ByMaria Bartiromo

Nov 20, 2023

Ripple’s XRP John Deaton has taken to social media to offer exclusive financial guidance, using the turbulent events surrounding XRP as a case study. Deaton offers a distinct viewpoint on the cryptocurrency market through his insights, illuminating his approach to strategy and experiences amid XRP’s volatile price swings.

He specifically brought up the recent controversy surrounding misleading reports regarding BlackRock’s XRP ETF filings, which caused XRP’s price to rise briefly before falling after the false information was dismissed.

Deaton’s advice came after a follower and a trader, Josh Butts, complained that he lost some considerable among of money following his (Deaton’s) advice about the fake news on “BlackRock iShares XRP Trust Entity” said to be registered in Delaware.

Deaton Bought Substantial Quantity Of XRP Before Judge Torres’ Judgement

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Deaton’s financial advice has been tagged ‘viable’ because of his openness in sharing his own strategic decisions. He disclosed that he had purchased a sizeable quantity of XRP before Judge Torres’ declaration, which significantly affected the value of the cryptocurrency.

Elena R, from CoinPedia, wrote that the choice to hold off on making any more XRP purchases suggests a cautious approach, perhaps motivated by a wish to evaluate the changing regulatory environment and market dynamics about Ripple and XRP.

Elena added that Deaton’s choice to be transparent about his methods and experiences in cryptocurrency advances the larger discussion about responsible investing. Deaton recommends that investors adopt a strategic approach in their trading.

Deaton added that they should normalize buying in quieter times and sell them with higher interest. He also urged traders to stay updated with the latest industry reports, insisting that knowing this information before it gets to the public can be more beneficial to an average trader.

Deaton Advised Followers Against Buying More Assets, XRP Price Drop

In his X post, John Deaton advised his followers against buying assets while on the influence of FOMO (Fear Of Missing Out). He explained that the situation is a time for holders to sell their assets before Judge Analisa Torres’ judgment in the SEC Vs. In the ripple case, the price of XRP rose significantly, creating a good opportunity for a profit sale.

Deaton spoke on Ripple’s current global regulatory status. According to him, the United Kingdom’s Financial Conduct Authority and the Japanese Financial Services Agency are yet to endorse the XRP as legal security. Deaton had also cleared that Ripple’s legal case with the authorities is not linked to fraud but a problem of regulatory disagreement.

He slept added that since a great portion of XRP is sold in the United States through approved investors, the possibility of a ‘disgorgement’ decreases significantly. Sharing his strategy, Deaton revealed that he’d bought major quantities of XRP before the XRP/SEC judgment and hasn’t bought any other assets since then. Deaton used the BlackRock report to push his narrative, warning against the dangers of believing fake news.

According to Deaton, such a situation can cause investors to lose instead of gain. As of press time, the price of XRP trades at $0.618875 in the last 24 hours, a 1.12% drop – after trading $1,048,029,871 in market volume, a 17.22% increase. The coin currently ranks #5 on CoinMarketCap, with a market capitalization of $33,244,893,630, which dropped 1.15% in the last 24 hours.

Maria Bartiromo

Maria Bartiromo

Maria Bartiromo is a renowned news writer and journalist, celebrated for her insightful reporting and authoritative voice. With a career spanning years, she has established herself as a trusted source of accurate and comprehensive news analysis, keeping readers informed on vital global developments.

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