Deaton And Some Other Analysts Tag XRP As An Attractive Investment. Here’s Why
In a recent update on Twitter, renowned economist Angus Deaton has tagged XRP as an attractive investment at current prices. Deaton, who is a Nobel laureate and Professor Emeritus at Princeton University, has been closely following the cryptocurrency market and has identified XRP as a potential winner.
John Deaton Gives Some Necessary Analyses On XRP, Saying XRP Is An Attractive Investment
According to the CryptoLaw founder, the asset has an attractive risk-to-reward potential in light of the impending ruling on so-called summary judgment. The ruling is expected in the next few weeks. It could even come this week, Deaton said. The attorney believes there is not much downside in XRP price if Ripple loses as the firm would appeal as they have alluded to, and we would maintain the status quo. However, he is optimistic that there could be some significant upside in XRP price if the asset classification becomes clear and Ripple obtains a favourable outcome.
Read Also: How To Stay Safe While Investing In Cryptocurrency
XRP has the most attractive risk/reward ratio IMO. The Judge’s ruling is coming down w/in the next few weeks (maybe this week). If the SEC wins, what’s the downside from .45? Ripple appeals and we get the status quo. Ripple wins and its made clear XRP isn’t a security? Upside? 🤔
— John E Deaton (@JohnEDeaton1) March 26, 2023
XRP All-Time High
XRP, which is the native cryptocurrency of the Ripple blockchain, has been on a rollercoaster ride in recent years, with its price soaring to an all-time high in 2017, only to crash in the following years. However, Deaton believes that the current prices of XRP present an excellent opportunity for investors.
“XRP has been undervalued for some time now, and the current prices represent a fantastic buying opportunity,” Deaton tweeted. “The cryptocurrency has tremendous potential, and I expect it to soar in the coming years.”
Read Also: Analysis Platform Noted That Ripple Could Succeed Despite The SEC’s Battle
The SEC, in a complaint in 2020, asserted that Ripple’s sale of XRP to fund its business violated securities law. According to the regulator, Ripple should have registered XRP as a security. What ensued is a legal battle that has spanned over two years as Ripple fights the SEC’s classification of XRP.
Deaton’s endorsement of XRP is likely to attract the attention of investors, who have been looking for reliable investment opportunities in the cryptocurrency market. With his reputation as a leading economist, Deaton’s opinion carries a lot of weight, and his endorsement could be the catalyst that XRP needs to regain its former glory.
Analyst Says XRP Will Soon Go Parabola
Furthermore, the prominent Crypto Michael (@MichaelXBT), who released an update on the token last week has also asserted that XRP would “go parabolic” while others barely move.
It’ll get painful for people who don’t own any $XRP. You’ll have to watch XRP go parabolic while your coins barely move. It’s fine tho, I will sell you my bags much higher and you will buy them due to FOMO.
— Crypto Michael (@MichaelXBT) March 23, 2023
It remains to be seen how the market will react to Deaton’s endorsement, but it is clear that XRP has the potential to be a lucrative investment for those who are willing to take a calculated risk. As always, investors should exercise caution and do their due diligence before investing in any cryptocurrency.
Follow us on Twitter, Facebook, Telegram, and Google News
Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
