Investors are navigating a turbulent period for XRP, the cryptocurrency native to the Ripple network, as its price experiences significant fluctuations. In a recent development, attorney John Deaton offered guidance to investors amidst the volatility, particularly highlighting the impact of social media on market movements. Deaton pointed out that news involving large asset managers like BlackRock (NYSE:BLK) can often arrive too late for investors to take profitable action. He noted that by the time such information hits social media, insiders may have already acted, leaving others behind.
This statement came in response to XRP's price changes following falsely reported news about a BlackRock exchange-traded fund (ETF). Reflecting on Ripple's ongoing legal battle with the Securities and Exchange Commission (SEC), Deaton drew parallels with past events where early investors benefited. He referenced Ripple's legal victory under Judge Analisa Torres, which led to a surge in XRP's price to $0.91.
With the SEC case nearing its conclusion, 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 a fear of missing out—could yield substantial returns. Deaton implied that investing before such news becomes widely known to the public could be advantageous. As the Ripple case progresses, market watchers will likely keep a close eye on developments and their potential impact on XRP prices.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.