John Deaton, a prominent lawyer and advocate for the XRP community, shared his views on the potential price impact of a positive outcome in the ongoing litigation between the US Securities and Exchange Commission (SEC) and Ripple.
Deaton said in a tweet today that he never expected XRP to reach its all-time high (ATH) unless the crypto market entered a full-blown Bitcoin-led bull run. However, he argued that the $ 1 level can be seen without a bull in BTC.
XRP hit an all-time high of $3.84 on January 4, 2018.
“All-Time High For XRP Can Only Be Seen If Case Wins And Bitcoin Breaks Record”
Deaton explained that his price expectations were based on the fact that the SEC lawsuit caused a lot of uncertainty and fear among investors who were waiting for a clear solution before buying or selling XRP.
He said he believes a good decision for Ripple will boost confidence and demand for XRP, but not enough to surpass its previous ATH of $3.84, which was reached in January 2018.
However, Deaton said he would be happy if XRP was proven wrong by breaking the record, but he also thought that XRP could achieve a new ATH only if Bitcoin broke its own record of $69,000.
*Not investment advice.