John Deaton, a renowned attorney and the founder of Crypto Legislation US, offered a provocative perspective on the ongoing Ripple v. SEC controversy in a tweet that attracted a lot of attention. According to Deaton, the lawsuit ironically served as a rapid stimulus for increased awareness and the uptake of Ripple’s XRP.
Deaton emphasizes “that a significant number of XRP holders first became acquainted with Ripple and its CEO, Brad Garlinghouse,” rather than through prior knowledge. there are still some XRP homeowners who are unaware, despite their being over 4 million XRP addresses in existence.
XRP Offers Global Support
Drawing on a personal experience, Deaton describes a conversation he had with another attorney who questioned the legitimacy of people who bought XRP after the case was filed. Deaton refused to be deterred and answered by saying that many XRP customers from foreign countries such as Japan, Mexico, the Netherlands, and Australia are probably not participating and even paying attention to the SEC’s actions in the US.
XRP Outshines Bitcoin for Some Deaton refers to the fact that many investors were lured to XRP because it consistently maintained a position among the top three cryptocurrencies and was far more cost-competitive than the top two. Another selling point for XRP was its shorter settlement time when compared to Bitcoin transactions.
Learn more here: XRP Value Remains Stable Despite Turbulence in the Crypto Sector.
Traders shared their impressions of XRP’s lightning speed, frequently comparing it to their wait times for Bitcoin transfers. Many people bought more XRP as a result of this alluring feature, and others were even inspired to learn more about the asset.
According to Deaton’s tweets, the ongoing Ripple lawsuit may have unintentionally contributed to a rise in XRP’s reputation. Despite the legal situation, many customers appear to be more attracted by the possibilities of the cryptocurrency than turned off by its legal disputes.
