© Reuters
Investors are going through a period of turbulence for XRP, the network’s native cryptocurrency, whose price is experiencing significant fluctuations. Recently, lawyer John Deaton offered advice to investors in this volatile environment, particularly highlighting the impact of social media on market movements. Mr. Deaton pointed out that news about large asset managers like BlackRock (NYSE:) often comes too late for investors to make profitable moves. He noted that by the time this information hits social media, insiders may have already acted, leaving others behind.
This statement was made in response to price movements in XRP following falsely reported information about a BlackRock exchange-traded fund (ETF). Reflecting on the ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC), Mr. Deaton drew parallels to past events where early investors were advantaged. He referred to Ripple’s legal victory before Judge Analisa Torres, which sent the price of XRP to $0.91.
With the SEC case nearing its conclusion, Mr. Deaton advised investors to consider a strategic approach. He suggested that buying during quieter times and selling during periods of high interest – often fueled by fear of missing out – could produce substantial returns. Mr. Deaton suggested that it may be beneficial to invest before this news becomes widely known to the public. As the Ripple case progresses, market observers will likely closely monitor developments and their potential impact on XRP prices.
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