Lawyer and crypto enthusiast, John Deaton, has made yet another bullish remark on XRP. True to Deaton’s words, the digital asset has proven resilient amid challenges, including regulatory attacks and backlash from crypto industry players.
While responding to Coindesk’s tweet, Deaton touted XRP as the most resilient coin in the crypto industry that would survive even a nuclear war as it has been topping charts over the past weeks with impressive gains.
The Surge In Dominance
Deaton’s latest comments come as XRP records massive rallies with over 60% price increase in two weeks, according to Coindesk’s TV platform reports. This has happened despite XRP facing attacks and criticism from top industry leaders like Cardano’s Charles Hoskinson and Vitalik Buterin.
On December 17, 2022, Charles Hoskinson stated that the XRP community is toxic, and petty and will no longer comment on anything concerning the token. His statement came after Buterin labeled the cryptocurrency a shitcoin while responding to Ripple’s Wells submission amid other criticisms. In addition, some Bitcoin maximalists supported the SEC’s move against XRP, calling it a banker’s coin.
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Deaton, who represents thousands of XRP holders as amicus curiae in the Ripple v. SEC lawsuit, made his remarks in light of these criticisms.
XRP showed incredible performances in South Korea recently, surpassing Bitcoin in trading volume on top exchanges. Coindesk’s TV platform, featuring its executive director, Emily Parker, highlighted these during the recent broadcast.
Parker attributed the asset’s dominance to the increasing demand for the token by South Korean traders. She further noted that the renewed optimism about the expected outcome of the SEC v. Ripple lawsuit also contributed to XRP’s performance.
The community, including Ripple’s CEO Brad Garlinghouse, are optimistic about the court’s ruling on the lawsuit. This expectation has boosted their confidence in the coin while sparking bullish sentiment among investors.
XRP Price Performance Outlook
XRP’s price moves started on March 15 when the assets scored some gains, though very slight. The rally became notable when it added 11%, in a day, on March 21 when other coins’ prices were down. These rallies pushed XRP’s price from $0.3606 on March 15 to $0.5454 on March 29, a 60% increase within two weeks.
Although XRP experienced a slight pullback, the token still holds more than 15% gains over the past week. Not only that, XRP has recorded a 36.69% price gain over the past 30 days. These moves place XRP ahead of most coins in performance and the highest gainer among the top 20 cryptocurrency assets.
XRP is trading at $0.5147, with a 0.54% price increase over the past 24 hours. The asset might climb above the current price level should it maintain its bullish momentum. More so, the token could rally even higher if Ripple emerges victorious in the ongoing SEC lawsuit.
Featured image from Pixabay and chart from Tradignview.com