Attorney Deaton Tags XRP As The Most Resilient Cryptocurrency, Saying Nuclear War Couldn’t Kill It
In a recent statement, economist Deaton praised XRP as the most resilient cryptocurrency, stating that even a nuclear war couldn’t kill it. Deaton’s comments come in response to the recent surge in the value of XRP, which has been on a steady upward trend over the past few weeks.
According to Deaton, XRP’s resilience is due to its unique design, which allows it to function independently of the traditional banking system. Unlike other cryptocurrencies, which rely on a decentralized network of nodes to validate transactions, XRP uses a centralized network to process payments.
Deaton Responds To CoinDesk’s Statement, Saying Nuclear War Couldn’t Kill XRP
Deaton’s response came to the most recent CoinDesk coverage of the XRP on its CoinDesk TV platform featuring Emily Parker, Executive Director at Coinbase.
Speaking on the surge in dominance, Parker ascribed XRP’s latest rally to the growing demand pumped into the asset by South Korean traders and renewed optimism on the legal tussle between Ripple and the SEC.
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$XRP went on a tear this week. In March alone, the token gained 39%.
"It appears that there has been a missing piece to this puzzle that explains a lot of what's happening with XRP, and that is Korea," @emilydparker says.https://t.co/s6gw0hue7i pic.twitter.com/r1XutnHpwF
— CoinDesk (@CoinDesk) April 2, 2023
This centralized approach has led to criticism from some members of the cryptocurrency community, who argue that it goes against the principles of decentralization and puts XRP at risk of being shut down by governments or other centralized authorities.
However, Deaton argues that XRP’s centralized design makes it more resilient in the face of external threats, such as a nuclear war or another catastrophic event. Because the network is controlled by a centralized authority, it can quickly adapt to changing circumstances and continue to function even if other cryptocurrencies and traditional financial systems are disrupted.
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Despite the controversy surrounding XRP’s centralized design, its recent surge in value suggests that many investors and traders are optimistic about its long-term prospects. Whether or not Deaton’s prediction of XRP’s resilience in the face of a nuclear war proves true remains to be seen, but for now, the cryptocurrency seems to be on a strong upward trajectory.
Despite facing a slowdown in its latest rally, XRP still maintains a 12.48% gain in the past week, making it the highest gainer among the top 20 assets. The asset is trading for $0.5102, seeking to retain a position above the $0.51 mark.
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