Pro-XRP attorney John Deaton believes the vast majority of investors will not troop into XRP until the asset breaches the $2 price level.
John Deaton, the founder of CryptoLaw and a pro-XRP attorney, recently commented on the perceived apathy observed among investors who have failed to procure XRP below $1. The lawyer believes these individuals are missing an investment opportunity, as they will likely jump on the train when the asset crosses $2.
“XRP sits at .48 cents, and it’s crazy to think about how many people, who refuse to buy it now, are going to buy it over $1,” Deaton tweeted today.
#XRP sits at .48 cents and it’s crazy to think about how many people, who refuse to buy it now, are going to buy it over $1. What’s even more crazy is that fomo won’t likely kick in until $2.
— John E Deaton (@JohnEDeaton1) May 29, 2023
Deaton’s latest remarks express the attorney’s shock that some investors have failed to leverage the opportunity to purchase XRP at a discounted price below $1. This syncs with the sentiment shared by several prominent analysts who have forecasted massive gains for the asset in the foreseeable future.
Despite Deaton’s shock at this level of investor apathy, the attorney believes the broader crypto community would likely not ride on the looming XRP rally until the asset has breached the $2 price. “What’s even more crazy is that fomo won’t likely kick in until $2,” he stressed.
The recent comments from Deaton highlight a dominant pattern observed among investors in the crypto scene and beyond. Notably, most proponents only jump on an asset when they observe major surges in value, leading to increased FOMO.
Analysts Predict a Looming Run for XRP
Attorney Deaton’s remarks echo a similar disclosure made by Egrag, a skilled chartist. As disclosed by The Crypto Basic last month, Egrag asserted that XRP trading below the $1 price level presents a “life-changing” investment opportunity for investors. This proclamation underscores Egrag’s conviction of a looming price surge for the asset.
In a more recent analysis, the market watcher pointed out that XRP is currently in a crucial position, and its price movement from here could take it to $3.3 or propel a price surge to $250.
Responding to Deaton’s comments, another analyst JD noted that XRP is currently stuck within a bullish symmetrical triangle. JD asserted that XRP would likely break out of the triangle by September. He forecasts a massive rally for the asset once it breaks out but chooses not to make any projected price targets.
Meanwhile, XRP is currently trading for $0.4786 at the time of reporting, up 4.38% in the past week. The asset has printed consecutive winning candles in the past four days, leading to a 6.29% gain within the time frame.