The Ripple price has been suppressed to some extent for some time now due to the uncertainty surrounding the US lawsuit Securities and Exchange Commission (SEC). At the end of 2020, the financial watchdog Ripple took to court over the alleged sale of unregistered securities, or effects. While it now seems that the final chapter in the case has been reached, one of Ripple’s most popular lawyers has already begun to talk about rates that are currently anything but within reach.
Ripple Advocate Predicts FOMO
This is about John Deaton who sent a tweet into the world on May 29 that may be a bit ahead of things. It is important to keep in mind that Deaton is a huge fan and holder of XRP, so you can assume that his opinion is not completely impartial. Deaton is often featured in the Ripple news and therefore expects Ripple to win the legal battle with the SEC.
#XRP sits at .48 cents and it’s crazy to think about how many people, who refuse to buy it now, are going to buy it over $1. What’s even more crazy is that fomo won’t likely kick in until $2.
— John E Deaton (@JohnEDeaton1) May 29, 2023
In his tweet, he indicates that it is crazy to think that many people who refuse to invest with a price of $ 0.48 will jump in when the price has passed the psychological threshold of $ 1. Then he says it’s even more baffling that FOMO, ie fear of missing outwill not hit until a rate of $2 is reached.
As an investor, you should be able to take a tweet like this with a grain of salt, since, as mentioned earlier, Deaton does not look at XRP completely objectively. From his point of view, the price can only go in one direction, but it is important to envision every possible scenario.
XRP price well below all-time high
According to data from CoinMarketCap reached XRP more than 5 years ago all time high from $3.84. With a current price of just over $0.50, it is now no less than 86.8% lower. As a direct result of the ongoing lawsuit with the SEC, it failed to rise above $2 during the previous bull market.
When the book of the legal battle between Ripple and the SEC can finally be closed is not exactly known. The court’s ruling will most likely affect the course of XRP and it is also important for the crypto industry as a whole.
