Crypto lawyer John Deaton disappointed with XRP and BTC price performance after SEC lawsuit; both saw modest increases of over 3% in the past 24 hours.
Cryptocurrency lawyer and enthusiast John E Deaton shared on Twitter that he was disappointed with the performance of Ripple (XRP) and Bitcoin (BTC). He had expected XRP to reach $1 following its legal win against the SEC, but the outcome didn’t meet his hopes.
Similarly, Deaton had anticipated a 10%-15% rise in BTC’s price after the recent SEC-related events involving Grayscale, but the actual price increase for both XRP and BTC fell short of his expectations.
I’m terrible at price prediction and what impacts price. I never thought #XRP would hit an ATH with a great court ruling (unless in a bull market), but I definitely thought it would hit $1. I also thought #BTC would experience a 10-15% green candle with a great court ruling. It’s…
— John E Deaton (@JohnEDeaton1) August 29, 2023
The U.S. District of Columbia Court of Appeals issued a verdict recently, stating that the SEC’s decision to reject Grayscale’s request to convert its GBTC fund into a Bitcoin ETF was wrong. In the upcoming week, the SEC has deadlines to decide on seven BTC ETFs.
Despite BTC’s price jumping more than 5% in the last 24 hours, this news didn’t push its price up by the anticipated 10%, as expected by Deaton and many crypto enthusiasts. Currently, BTC is trading at $27,438.52, slightly below its daily peak of $27,760.16.
With BTC’s price rise, its 24-hour trading volume surged over 180% to reach $31.04 billion. Moreover, this successful 24-hour period brought its weekly performance back into the positive at +5.28%.
As BTC’s price increased, other cryptocurrencies like XRP also began to see price gains. According to CoinMarketCap, XRP’s value is $0.5323 after a 3% rise in the last day. This improvement also pushed XRP’s performance over the past seven days to +2.74%.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
Join Cryptos Headlines Community
Follow Cryptos Headlines on Google News
