Pro-crypto lawyer John Deaton has now commented on the XRP market cap, suggesting it could reach $100 billion.
XRP, one of the leading cryptocurrencies, has recently achieved notable milestones, driven by favorable market changes and significant news.
For the first time in three years, XRP has risen above $1, currently trading at $1.54.
This upward movement coincides with encouraging developments, such as the announcement of SEC Chair Gary Gensler’s resignation, which has boosted market optimism.
In light of this performance, John Deaton, a prominent advocate for crypto and legal expert, has made an intriguing prediction: he believes XRP’s market cap is on track to exceed $100 billion.
The $100 Billion Market Cap Prediction
Currently, XRP’s market cap is around $82.05 billion, meaning it needs about $18 billion to reach the $100 billion mark.
Since November 11, its market cap has surged by over $50 billion, suggesting that closing this gap could happen quickly.
The last time XRP’s market cap hit $100 billion was in January 2018, when it peaked at $3.84.
To reach this milestone again, XRP would need to be priced at approximately $1.75, positioning it for a potential breakout past its 2021 high of $1.96—an important target according to veteran trader Peter Brandt.
How Can XRP Reach This Level?
Deaton has consistently supported XRP and Ripple Labs, especially during their legal challenges with the SEC.
His optimism reflects XRP’s resilience and the evolving regulatory environment that may support its growth.
XRP’s recent gains are particularly significant given its stagnation following the SEC’s lawsuit against Ripple in 2020.
Under Gensler’s leadership, the SEC adopted a stringent regulatory approach that many viewed as excessive.
However, some experts believe the legal landscape could shift with Gensler’s departure.
Reports suggest that President-elect Donald Trump may appoint a pro-crypto SEC Chair who could resolve the Ripple case and dismiss similar actions against other crypto firms.
Deaton emphasized that “times are changing,” and with Ripple expanding its payment network and forming institutional partnerships, XRP is well-positioned to benefit from these developments and the broader market transition.
Read Daily Crypto News for more news and updates like this.
Follow us on CoinMarketCap
Also Read: XRP Now Achieves Highest Weekly Close in Three Years
About The Author
Leave your thoughts below
Read Daily Crypto News- https://franknez.com/daily-crypto-news/ for more news and updates like this