Crypto lawyer John Deaton, a known XRP advocate, recently shared some key insights about what’s driving the price of XRP, which is currently around $0.65. Are there important messages here for XRP holders? Let’s break it down.
Figuring Out the Basics
According to Deaton, the rise of Bitcoin acts as a catalyst for altcoins like XRP. He explains, “XRP hasn’t broken free from Bitcoin. It’s just fact, no matter how much you or anyone else wants to deny it.” This statement came after a staunch XRP supporter expressed disappointment upon learning Deaton also owns Bitcoin.
Deaton’s lighthearted response, while failing to placate all XRP holders, offered a much-needed dose of humor amidst the rising tension. The exchange between Deaton and Shelton highlights the ongoing debate within the cryptocurrency community regarding the relative importance of different digital assets.
Also Read: John Deaton’s Top 10 Altcoin Picks for the Bull Market
The Debate Continues
Peter Shelton expressed his disappointment in Deaton talking more about Bitcoin than XRP lately. He feels it’s like a “lack of respect” for the XRP community. But Deaton disagrees, saying that recognizing Bitcoin’s importance doesn’t mean XRP isn’t important. He goes a step further by rejecting extreme views favoring either Bitcoin or XRP exclusively.
Even though Deaton emphasizes the link between XRP and Bitcoin, recent movements in the market show a bit of hope for XRP fans. In the last 24 hours, XRP went up by 5%, reaching $0.65. But, keep in mind, this gain is still closely tied to Bitcoin’s recent jump above $44k.
Let’s Focus on the Bigger Picture
Deaton’s message is a reminder that, despite some positive moves, XRP’s destiny is closely connected to how well Bitcoin does overall. So, if you’re an XRP holder hoping for bigger profits, rooting for Bitcoin might just be the smart move. As Deaton puts it, Bitcoin’s success lifts all crypto boats, including the often-debated XRP.
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