The XRP price has failed to reach anticipated levels despite a recent court ruling in favor of the token. Pro-XRP lawyer John Deaton, who has set ambitious price targets for the cryptocurrency, responded to a Twitter post from a user named Moon Lambo. Moon Lambo had criticized complaints from certain investors about slow price gains in digital currencies this year and pointed out that XRP had grown by 85%, implying an overall positive trend.
Several weeks ago, Judge Analisa Torres delivered a highly anticipated ruling, stating that XRP is not considered a security in certain circumstances. This ruling caused a significant surge in the price of XRP within the broader Web3 ecosystem.
In response to Moon Lambo’s comments, John Deaton stated that some users’ disappointment stems from unrealistic expectations. While he never believed XRP would reach an all-time high (ATH) unless the market was in a full bull run led by Bitcoin, he did expect the price to break the $1 resistance level. However, neither of these scenarios unfolded, despite the token experiencing a significant surge of over 70% following the ruling, reaching $0.84.
It is important to note that XRP reached its all-time high of $3.84 over six years ago, so surpassing that price level may be overly ambitious. Nonetheless, Deaton remains optimistic that reaching $1 is a possibility.
However, Deaton also pointed out that the price of XRP is strongly linked to the price of Bitcoin. While he is not a market analyst, he believes that significant bullish momentum in the price of XRP is unlikely to be seen unless Bitcoin retests its all-time high.
Currently, XRP is trading at $0.6283.
Overall, despite the favorable court ruling, the XRP price has not met the expectations of some investors. John Deaton remains optimistic about the future price of XRP, particularly if Bitcoin experiences a significant price increase. However, it is clear that achieving a new all-time high for XRP may be a more challenging goal. Investors will continue to monitor the market and assess the potential for further growth in XRP’s price.
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