Crypto lawyer John E. Deaton recently explained why he believes Ripple will not abandon XRP, its native cryptocurrency. His comments come after Ripple announced that the Dubai Financial Services Authority (DFSA) has approved XRP under its virtual assets framework.
What you'll learn 👉
Ripple’s Investments Show Confidence in XRP
According to Deaton, who has represented XRP holders in lawsuits, Ripple has a “fiduciary duty not to abandon XRP.” He points to Ripple’s continued investments in itself as evidence of its long-term commitment to the cryptocurrency.
In 2015, 2016, and 2020, Ripple raised $128 million, $410 million, and $10 billion respectively in funding rounds that valued the company higher each time. Last year, Ripple even bought back its Series C shares at a 50% premium, valuing itself at $15 billion.
Massive XRP Holdings Incentivize Ripple
Deaton argues that with Ripple holding 48-50 billion XRP, worth billions at XRP’s current price, it makes little sense for the company to walk away. If XRP reached $2, Ripple’s holdings alone would be valued at $100 billion.
Essentially, Ripple owning such a large share of the fixed XRP supply gives it a huge financial incentive to continue developing use cases and advancing adoption of the cryptocurrency.
- Top Analyst Reveals Top 3 AI Cryptos with Huge Potentials that He’s Buying in November
- Top Analyst Sees XRP Exploding to $18.22 – Here’s His Ripple Outlook
- eTukTuk’s mission towards zero emission paves $TUK token
Recent Win Supports Ripple’s Outlook
Ripple’s continued support for XRP integration, even achieving regulatory approval in Dubai amid its legal battles, shows its long-term commitment to the asset. As Deaton states, Ripple investing in itself during the bear market and before its major court victory supports that it is “not going to abandon” XRP anytime soon.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy thetrades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com