John Deaton, a lawyer and well-known supporter of XRP, has firmly denied making any predictions about XRP hitting the $10,000 mark or eventually reaching the valuation of Ethereum. He cleared the air after his comment concerning XRP’s recent surprising surge, which propelled it to levels unseen for months.
Lukey Mo (@_lukey_mo), a member of the XRP community on X, drew attention to XRP’s surge, writing, “What am I missing here….. $XRP is pumping and no one knows why.” He attached a picture of XRP’s price movement.
At that time, XRP was trading at $0.6869, and would eventually rise to a four-month high of $.7297 on November 6.
In reply, Deaton proposed that XRP’s surge could be interpreted as the “Rise of Legal Utility.” This perspective could mean XRP’s legal clarity because of Ripple’s victories over the U.S. Securities and Exchange Commission (SEC) in the infamous XRP lawsuit. It could also mean the growing recognition of XRP’s practical applications within legal and financial contexts.
Seeing Deaton’s comments, an XRP enthusiast shared them on X, and in the process, added words that changed the meaning conveyed by Deaton’s original message.
The user stated, “According to @JohnEDeaton1 the rise of XRP right now is the rise of legal Utility. There is no doubt once it gets the settlement, XRP will double its market cap soon will overcome ETH market cap”
He also added an image to the response, showing XRP at $10, $100 and $10,000.
John Deaton Clears the Air
Deaton responded swiftly, clarifying that he did not make any of the claims shared by this user. He stated, “I never said all of this. I said today’s pump was called the rise of legal utility. For the record, I’ve never said any of the rest. I’ve certainly never said or implied XRP was going to the numbers below.”
I never said all of this. I said today’s pump was called the rise of legal utility. For the record, I’ve never said any of the rest. I’ve certainly never said or implied XRP was going to the numbers below. https://t.co/QcPXCOp9jG
— John E Deaton (@JohnEDeaton1) November 6, 2023
Deaton did not make any claims of XRP going to $10,000, and this could be the reaction of an overexcited XRP enthusiast. Many community members called him out for this error.
Rumors of XRP going to $10,000 have been making the rounds lately. Recently, a prominent news channel shared unconfirmed claims of Ripple co-founder Arthur Britto stating that XRP would rise to $10,000.