Attorney John Deaton, renowned for his Crypto-Law expertise, has offered strategic financial guidance to XRP investors amidst the recent frenzy surrounding the Fear of Missing Out (FOMO). This counsel comes in response to an investor’s claim of financial loss, purportedly due to Deaton confirming the validity of the BlackRock XRP Trust application.
The week commenced with a spurious report circulating about BlackRock, the global asset management giant, purportedly making moves to launch an XRP-centric exchange-traded fund (ETF). This speculative information catalyzed a swift 12% surge in Ripple coin price, reaching 74 cents in mere minutes. However, the surge was short-lived as Bloomberg ETF analyst Eric Balchunas debunked the report as false, causing the asset’s value to revert to its previous levels.
Following this price retreat to around $0.63, enthusiasts attributed losses to Attorney Deaton, citing the fake BlackRock report. Supporting the claim, the enthusiast shared a screenshot ostensibly confirming Deaton’s validation of the BlackRock news.
Attorney Deaton Counsels XRP Community
In response to these allegations, Attorney Deaton proffered strategic financial advice to the XRP community on navigating FOMO-induced market fluctuations. He cautioned against impulsive asset purchases driven by speculative news, advocating instead for leveraging such scenarios to sell assets profitably.
While referring to the XRP narrative, Deaton emphasized that the best time to invest in the Ripple coin was before Judge Torres delivered the summary judgment in the SEC v. Ripple lawsuit. He suggested that investors could have sold their holdings at 0.91 when everyone else expected the price to increase further.
Following Judge Torres’s ruling that XRP is not a security and that most Ripple transactions comply with securities laws, Deaton revealed that he had acquired a significant amount of XRP before the court’s decision. He clarified, however, that he had not purchased any coin after the July judgment.
Deaton’s guidance underscores the significance of strategic timing in trading decisions, emphasizing prudent actions amid market speculation to maximize potential gains and minimize risks for investors.