Ripple News : Did The SEC-Ripple Lawsuit Propel XRP Adoption, Deaton’s Observations Spur Intrigue
The post Ripple News : Did The SEC-Ripple Lawsuit Propel XRP Adoption, Deaton’s Observations Spur Intrigue appeared first on Coinpedia Fintech News
In an attention-grabbing tweet that has caught the eye of many, John Deaton, a renowned lawyer and the founder of Crypto Law US, has presented a thought-provoking viewpoint on the ongoing Ripple vs SEC saga. Deaton argues that the lawsuit has paradoxically acted as an unexpected catalyst for increased awareness and adoption of Ripple’s XRP.
I have zero doubt that many more #XRPHolders first became aware and learned about @Ripple and @bgarlinghouse because of the SEC and the lawsuit than any before. There are more than 4M XRP addresses. There are people in this who own XRP today and still don’t know about… https://t.co/q2ZqitUaMt
— John E Deaton (@JohnEDeaton1) June 23, 2023
Deaton highlights that a considerable number of XRP holders first became acquainted with Ripple and its CEO, Brad Garlinghouse, through the lawsuit, rather than through pre-existing knowledge. With over 4 million XRP addresses worldwide, there are still XRP owners who remain uninformed.
XRP Has Global Support
Drawing from an anecdotal encounter, Deaton recounts a conversation he had with another lawyer who questioned the credibility of people purchasing XRP after the lawsuit was filed. Undeterred, Deaton responded by pointing out that many XRP investors from countries like Japan, Mexico, the Netherlands, and Australia may not be concerned or even paying attention to the SEC’s activities in the United States.
XRP Outshines Bitcoin For Some
Deaton suggests that many investors were drawn to XRP as it consistently held a position among the top three cryptocurrencies, and was significantly more affordable than the top two. The faster settlement time for XRP transactions compared to Bitcoin proved to be another selling point.
Also Read: XRP Price Maintains its Resilience Regardless Turmoil Within the Crypto Space
Investors reported their experiences with XRP’s blazing speed, often comparing it to their wait times for Bitcoin transfers. This attractive feature prompted many to purchase more XRP, even leading some to delve deeper into their research about the token.
Deaton’s tweets imply that the ongoing Ripple lawsuit may have inadvertently fueled a surge in XRP’s popularity. Despite the legal predicament, many investors around the world seem to be more intrigued by the cryptocurrency’s potential, rather than dissuaded by its legal battles.
Filed under: Bitcoin - @ June 26, 2023 3:20 am