John Deaton, the founder of CryptoLaw and blockchain enthusiast, thinks XRP (XRP), Bitcoin (BTC), and Ethereum (ETH) will survive five years.
Deaton claims that these three altcoins have weathered market volatility, whereas others have fluctuated with key events.
Due to their ability to stay relevant in the ever-changing crypto environment, he believes in their longevity.
Deaton is confident that XRP, BTC, and ETH will stay because they have all made considerable progress toward mainstream finance.
He adds that it would take a major calamity to wipe out these three coins by 2025.
As more financial institutions implement blockchain technology, he believes these coins will continue to dominate the market.
Juncture Financial CEO Jack Deaton maintains a prediction
Jack Deaton, the CEO of Juncture Financial, is sticking to a prediction he made in August last year.
The Head of Assets at Zurich-based Sygnum Bank advocated Bitcoin, Ethereum, and XRP as future digital assets.
Despite recent legal issues surrounding Ripple Inc., Deaton believes it has not altered his opinion on XRP’s potential.
Deaton predicted in an interview that XRP would become a key asset class in payments.
He added that this recommendation had stayed the same since 2020, despite regulatory uncertainties and judicial battles like Ripple Inc.
In 2019, Ripple CEO Brad Garlinghouse made an infamous prediction that 99% of all cryptocurrencies would go to zero.
One of the crypto industry’s most repeated predictions, this daring declaration sparked a stir.
According to Garlinghouse, the industry is still in its “pre-Cambrian” stage due to developers’ high degree of experimentation.
He believes a small percentage of crypto initiatives will survive long enough to attain mass adoption.
Garlinghouse’s controversial comment was met with criticism and support from different corners of the cryptocurrency community.
His statement was harsh, but others saw it as maturity for a sector typically criticized for being excessively speculative.
Holding Steady during the Storms: XRP
The Securities and Exchange Commission filed a lawsuit against Ripple Labs in December 2020. It did the same against XRP II LLC, the subsidiary of Ripple Labs at the same time.
In addition to the lawsuit against the companies, the SEC also filed a lawsuit against two of its executives. The regulator took all of them to court for allegedly selling $1.3 billion in unregistered XRP securities.
Ripple Labs, Brad Garlinghouse, and Chris Larsen were fined, disgorged, and injuncted by the Southern District of New York.
Ripple was charged by the SEC for selling XRP to retail investors in 2013 without a securities registration or exemption.
After the U.S. Securities and Exchange Commission sued Ripple Labs, XRP plummeted below 20 cents. This sparked fear among investors, leading many to sell their XRP holdings.
Consequently, several popular exchanges, such as Coinbase and Binance, delisted XRP from their platform.
Despite this huge setback, XRP has still managed to remain in the top 10 cryptocurrencies by market cap. Its current ranking stands at fourth, according to CoinMarketCap’s data.
Analysts credit its name recognition and loyal user base for making it one of the most well-known cryptocurrencies.
Ripple Labs has also made steps to resolve investor worries over its legal challenges with global regulatory agencies. It shows that the XRP value proposition remains constant regardless of the circumstances.
XRP, XRP Ledger’s native asset, has been one of the most robust digital currencies for ten years.
Despite a decade of market volatility and regulatory uncertainty, XRP has remained among the top 10 crypto assets by market capitalization.
XRP’s resilience is a testament to its underlying value proposition as a financial settlement layer for cross-border payments and remittances.
Banks and financial institutions can move money across borders swiftly and securely using its fast transaction times.
It was back in 2012 when the XRP Ledger platform was launched and since then, the protocol has been running without facing any problems.
It is a distributed ledger technology that uses a token called XRP to power transactions.
XRP has recently emerged as one of the most talked-about digital assets. It briefly surpassed Ethereum as the second-largest crypto by market cap at the end of 2017.
The rise in XRP’s popularity is credited to various factors, including speed and scalability.
Businesses seeking fast payment solutions may consider it because transactions take 4 seconds compared to Bitcoin’s 10 minutes.
