CryptoLaw founder and blockchain enthusiast John Deaton believes that XRP (XRP), Bitcoin (BTC) and Ethereum (ETH) will still be around in the next five years.
Aside from the SEC lawsuit 🆚 #XRP, what has changed since Sygnum recommended #BTC #ETH and #XRP? I still believe that all three will be standing in 5 years. The question is what will other tokens be? @bgarlinghouse said 99% likely to go to zero. What is in 2028? https://t.co/TQFOnwRr26
— John E Deaton (@JohnEDeaton1) January 21, 2023
He circled back to a prediction he made in August last year, where he mentioned a report from the head of assets at Zurich-based Sygnum Bank that recommended three digital assets of the future.
The first is bitcoin as a store of value; second, Ethereum for infrastructure; and third, XRP for payments. According to Deaton, apart from the Ripple lawsuit, nothing has changed for XRP since 2020, when the recommendation was made, so he remains sticking to his forecast.
In 2019, Garlinghouse famously predicted that 99% of all cryptocurrencies would go to zero. According to him, the industry is in its “precambrian” stage, with much experimentation still going on.
XRP braves storms
In December 2020, the United States Securities and Exchange Commission (SEC) filed its lawsuit against Ripple Labs and two of its executives, alleging that $1.3 billion in XRP sales constituted unregistered securities.
Immediately after the lawsuit was filed, the price of XRP dropped drastically to around 20 cents. Despite this and subsequent delisting from certain exchanges, XRP has nevertheless continued to rank among the top 10 cryptocurrencies by market cap.
It further shows that the value proposition of XRP remains constant regardless of the circumstances. Over the past 10 years, XRP, XRP Ledger’s native asset, has weathered the storms and maintained its position among the top 10 cryptocurrencies, a feat that many other cryptocurrencies have failed to match.
The XRP ledger platform has been running smoothly since its launch in June 2012. XRP experienced a phenomenal surge from late 2017 to early 2018, climbing thousands of percent and at times overtaking Ethereum as the second largest cryptocurrency.
At the time of publication, XRP was trading at $0.40 and ranked as the sixth largest cryptocurrency with a market valuation of $20.5 billion.
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