John Deaton Increases XRP Holdings Despite Legal Battle
Ripple advocate, John Deaton, has made a bold move by significantly increasing his XRP holdings in his crypto portfolio, despite the legal challenges the cryptocurrency is facing with the US SEC.
Deaton’s Crypto Portfolio Shift
In a recent post on X (formerly Twitter), Deaton revealed that he now holds more XRP tokens than Ethereum in his portfolio. He has focused the majority of his holdings on Bitcoin, Ripple, and Ethereum, with Bitcoin being his most substantial investment among the three.
Deaton explained that he previously owned 10 times more BTC than XRP and 3-4 times more ETH than XRP. However, he has now shifted to holding significantly more XRP than ETH.
Supporting XRP Amid Legal Battle
Deaton has been an active supporter of XRP in the legal battle with the SEC. He stated that he purchased more XRP tokens during the time when the cryptocurrency was facing reputational challenges due to the lawsuit. His strong support for XRP stems from his belief that it will prevail against the SEC and gain regulatory clarity.
He admitted to making an emotional investment decision, saying, “I bet my heart. The more I fought the SEC, the more I bought #XRP.”
Pro XRP Lawyer Bullish On Cross-Border Payments Role
In another post on X, Deaton highlighted the role of XRP in cross-border payments. He expressed confidence in XRP’s potential to continue being a leading payments solution in the industry with sustained growth.
Deaton emphasized that cross-border payments represent a massive market and believes that XRP will appreciate considerably by capturing a piece of this market share in the long term.
Ripple’s Influence on Global Payments
Deaton pointed out how much influence XRP has had on the global payment system and its potential for sustained growth in the crypto market.
XRP Price Chart from Tradingview.com (Ripple)
Hot Take: Deaton’s Bold Bet on XRP
John Deaton’s decision to increase his holdings of XRP despite its legal battle with the SEC reflects his confidence in Ripple’s ability to prevail and thrive in cross-border payments. His emotional investment approach may pay off if Ripple wins its legal battle and gains regulatory clarity, solidifying its position as a leading payments solution in the crypto market.
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