CryptoLaw founder John Deaton explained why XRP still remains important.
In a statement on Twitter, Deaton made statements about why people continue to care about XRP.
John Deaton Highlights the Importance of XRP
The CryptoLaw founder first noted the importance of XRP as the third-largest cryptocurrency by market capitalization from 2015 to 2020, after Bitcoin and Ethereum. The asset never fell from the top ten.
Another reason, according to Deaton, is that Ripple, the issuer of XRP, has been sued by the US Securities and Exchange Commission. The SEC defines XRP as an “registered security,” and the crypto community continues to support Ripple’s token for this reason.
The XRP community believes that Ripple will win the case against the SEC and has been looking forward to the resolution of the case since 2020. Ripple CEO Brad Garlinghouse stated at the end of last year that he expects the case to be resolved in 2023. The outcome of the case is of vital importance for the cryptocurrency industry.
XRP supporters believe that if Ripple wins the case, there will be a huge rise in the value of XRP.