{"id":558967,"date":"2023-11-03T13:00:49","date_gmt":"2023-11-03T13:00:49","guid":{"rendered":"https:\/\/ktsl888.com\/?p=558967"},"modified":"2024-06-11T10:36:32","modified_gmt":"2024-06-11T10:36:32","slug":"legal-expert-ripple-xrp","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/legal-expert-ripple-xrp\/","title":{"rendered":"Legal Expert Explains Why Ripple Will Always Back XRP"},"content":{"rendered":"

A pro-XRP lawyer known for advocating for the cryptocurrency has outlined reasons why he believes Ripple would not abandon the XRP token.\u00a0<\/span><\/p>\n

Lawyer Proclaims That Ripple Is Committed To XRP<\/h2>\n

Pro-XRP lawyer and Managing Partner of the Deaton Firm, <\/span>John E. Deaton<\/span><\/a> has taken to <\/span>X<\/span><\/a> (formerly Twitter) to assuage concerns raised about Ripple\u2019s commitment and plans for the XRP token.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Cash Rally Threatened As Exchange Drops BCH Following XRP Listing Rumors<\/a><\/div>\n

Following the recent announcement of XRP\u2019s <\/span>expansion into Dubai<\/span><\/a> after gaining approval from the Dubai Financial Services Authority (DFSA), Deaton boldly stated in his post that Ripple was not planning to ditch the XRP token and would not be for years. He said that the crypto payments network had a strong financial responsibility to the token, having invested billions in XRP.\u00a0<\/span><\/p>\n

\u201cAs I\u2019ve said for more than 3 years, Ripple is not going to abandon XRP. It has a fiduciary duty not to,\u201d Deaton stated.\u00a0<\/span><\/p>\n

Deaton highlighted Ripple\u2019s financial journey revolving around the <\/span>XRP token. <\/span><\/a>He stated that in its Series A funding in 2015, Ripple was valued at $128 million. In Series B, the crypto payments network\u2019s value rose again in the following year to $410 million and by 2020, Ripple had attained a value of $10 billion in its Series C valuation.\u00a0<\/span><\/p>\n

Deaton also mentioned Ripple\u2019s Series C buyback valuation last year, which saw the crypto network purchasing its Series C shares at a 50% higher price.\u00a0<\/span><\/p>\n

According to Deaton, Ripple\u2019s growing value and large-scale investments regarding XRP are proof enough that the crypto network would continue its support for <\/span>XRP<\/span><\/a>.<\/span><\/p>\n

The pro-XRP lawyer disclosed that Ripple owned $48 billion to $50 billion worth of XRP, which makes it inconceivable for the crypto network to abandon XRP. He also stated that Ripple has more to gain than lose, especially if the <\/span>XRP token price surges<\/span><\/a> to $2.\u00a0<\/span><\/p>\n

\u201cRipple\u2019s pre-IPO shares clearly trade at a valuation significantly less than $15B. Owning 48B-50B XRP makes it insane to abandon XRP. If #XRP reaches $2, Ripple has an asset valued at $100B,\u201d Deaton stated.\u00a0<\/span><\/p>\n

\"Ripple<\/p>\n

Token price holds $0.6 | Source: XRPUSD on Tradingview.com<\/a><\/pre>\n
XRP Enthusiast Question Price Standstill After Major Milestones<\/h2>\n
While many XRP community members have commemorated the recent successes in the XRP ecosystem, an XRP enthusiast has chosen to voice out concerns about the lingering question of why the <\/span>price of XRP<\/span><\/a> has not been affected by its new achievements.\u00a0<\/span><\/p>\n
XRP Cryptowolf took to <\/span>X<\/span><\/a> on Thursday to publish XRP\u2019s newest development of partnering with the <\/span>National Bank of Georgia (NBG)<\/span><\/a> and why the token has not shown any significant price surges following the announcement.\u00a0<\/span><\/p>\n
Related Reading: Shiba Inu Whales Are Moving SHIB Again, Bearish Or Bullish?<\/a><\/div>\n
\u201cAnyone else wondering why $XRP didn\u2019t skyrocket to the news of Ripple partnering with a central bank?\u201d XRP Cryptowolf stated.\u00a0<\/span><\/p>\n
Additionally, following John Deaton\u2019s statement that <\/span>Ripple<\/span> would not abandon the XRP token, an XRP community member <\/span>disclosed<\/span><\/a> that the XRP token had shown only a slight price change when a larger surge was expected.<\/span><\/p>\n
\u201cAnd yet here we are up 3 pennies haha any other coin would have jumped $15 bucks in a day with this kind of news,\u201d an XRP community member stated.<\/span><\/p>\n
While the <\/span>present price of XRP<\/span><\/a> has displayed a slower price growth than its past, many crypto enthusiasts believe that the cryptocurrency\u2019s ongoing legal battle with the <\/span>United States Securities and Exchange Commission (SEC)<\/span><\/a> has been the primary source of its growth stunt.\u00a0<\/span><\/p>\n
In response to XRP Cryptowolf\u2019s question about the slack in the price of XRP, a community member <\/span>stated<\/span><\/a> that \u201cfor XRP to truly be free and demonstrate its potential, it will only happen after it clears all the SEC lawsuits.\u201d<\/span><\/p>\n
Featured image from StormGain, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
A pro-XRP lawyer known for advocating for the cryptocurrency has outlined reasons why he believes Ripple would not abandon the XRP token.\u00a0 Lawyer Proclaims That Ripple Is Committed To XRP Pro-XRP lawyer and Managing Partner of the Deaton Firm, John E. Deaton has taken to X (formerly Twitter) to assuage concerns raised about Ripple\u2019s commitment and plans for the XRP token.\u00a0 Related Reading: Bitcoin Cash Rally Threatened As Exchange Drops BCH Following XRP Listing Rumors Following the recent announcement of XRP\u2019s expansion into Dubai after gaining approval from the Dubai Financial Services Authority (DFSA), Deaton boldly stated in his post that Ripple was not planning to ditch the XRP token and would not be for years. He said that the crypto payments network had a strong financial responsibility to the token, having invested billions in XRP.\u00a0 \u201cAs I\u2019ve said for more than 3 years, Ripple is not going to abandon XRP. It has a fiduciary duty not to,\u201d Deaton stated.\u00a0 Deaton highlighted Ripple\u2019s financial journey revolving around the XRP token. He stated that in its Series A funding in 2015, Ripple was valued at $128 million. In Series B, the crypto payments network\u2019s value rose again in the following year to $410 million and by 2020, Ripple had attained a value of $10 billion in its Series C valuation.\u00a0 Deaton also mentioned Ripple\u2019s Series C buyback valuation last year, which saw the crypto network purchasing its Series C shares at a 50% higher price.\u00a0 According to Deaton, Ripple\u2019s growing value and large-scale investments regarding XRP are proof enough that the crypto network would continue its support for XRP. The pro-XRP lawyer disclosed that Ripple owned $48 billion to $50 billion worth of XRP, which makes it inconceivable for the crypto network to abandon XRP. He also stated that Ripple has more to gain than lose, especially if the XRP token price surges to $2.\u00a0 \u201cRipple\u2019s pre-IPO shares clearly trade at a valuation significantly less than $15B. Owning 48B-50B XRP makes it insane to abandon XRP. If #XRP reaches $2, Ripple has an asset valued at $100B,\u201d Deaton stated.\u00a0 Token price holds $0.6 | Source: XRPUSD on Tradingview.com XRP Enthusiast Question Price Standstill After Major Milestones While many XRP community members have commemorated the recent successes in the XRP ecosystem, an XRP enthusiast has chosen to voice out concerns about the lingering question of why the price of XRP has not been affected by its new achievements.\u00a0 XRP Cryptowolf took to X on Thursday to publish XRP\u2019s newest development of partnering with the National Bank of Georgia (NBG) and why the token has not shown any significant price surges following the announcement.\u00a0 Related Reading: Shiba Inu Whales Are Moving SHIB Again, Bearish Or Bullish? \u201cAnyone else wondering why $XRP didn\u2019t skyrocket to the news of Ripple partnering with a central bank?\u201d XRP Cryptowolf stated.\u00a0 Additionally, following John Deaton\u2019s statement that Ripple would not abandon the XRP token, an XRP community member disclosed that the XRP token had shown only a slight price change when a larger surge was expected. \u201cAnd yet here we are up 3 pennies haha any other coin would have jumped $15 bucks in a day with this kind of news,\u201d an XRP community member stated. While the present price of XRP has displayed a slower price growth than its past, many crypto enthusiasts believe that the cryptocurrency\u2019s ongoing legal battle with the United States Securities and Exchange Commission (SEC) has been the primary source of its growth stunt.\u00a0 In response to XRP Cryptowolf\u2019s question about the slack in the price of XRP, a community member stated that \u201cfor XRP to truly be free and demonstrate its potential, it will only happen after it clears all the SEC lawsuits.\u201d Featured image from StormGain, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":558971,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,16894,83363],"tags":[88118,89613,3680,17209,3799,89194,4531,83637,10972,78763],"class_list":["post-558967","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ripple","category-xrp","tag-john-deaton","tag-pro-xrp-lawyer","tag-ripple","tag-ripple-news","tag-sec","tag-sec-news","tag-xrp","tag-xrp-news","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nLegal Expert Explains Why Ripple Will Always Back XRP<\/title>\n<meta name=\"description\" content=\"A pro-XRP lawyer known for advocating the cryptocurrency has outlined reasons why he believes Ripple would not abandon the XRP token.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, 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