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Following a brief increase, the XRP (XRP) price fell short of expected levels after a recent favorable court decision regarding the token. Among those with high price expectations for the cryptocurrency is pro-XRP attorney John Deaton.
Deaton responded to a post from a user named Moon Lambo on X (formerly Twitter), who criticized certain investors for their complaints about the slow price increases in digital currencies this year. Moon Lambo noted that XRP has risen by 85% this year, suggesting a generally positive trend.
Several weeks have elapsed since Judge Analisa Torres issued the highly awaited ruling that XRP is not classified as a security under specific conditions. This ruling triggered a notable increase in the price of the cryptocurrency within the larger Web3 ecosystem.
It’s all about expectations. Unless we were in a full bull market – led by #Bitcoin – I never believed XRP would hit an ATH, even after a good ruling and I said that when asked about my expectations on price (although I did expect it to break $1 tbh). But until #Bitcoin breaks… https://t.co/alMOGfHne6
— John E Deaton (@JohnEDeaton1) August 5, 2023
In reply, Deaton mentioned that some users’ dissatisfaction arises from their expectations. While he did not foresee XRP achieving a new all-time high following the ruling, he did anticipate the price would exceed the $1 resistance level.
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Nonetheless, neither of these outcomes occurred, even though the token saw a substantial increase of over 70% after the ruling, reaching $0.84.
XRP hit its all-time high of $3.84 more than six years ago. While exceeding that price point may be overly ambitious, Deaton remains hopeful that reaching $1 is achievable.
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However, the attorney indicated that this is connected to the price of Bitcoin (BTC). Although not a market analyst, Deaton conveyed his belief that unless BTC revisits its all-time high, significant bullish momentum in XRP’s price is unlikely.
XRP is trading at $0.6283 at the time of this writing.
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