Deaton Hails XRP Pump As ‘Rise Of Legal Utility’ But Debunks Misattributed $10,000 XRP Price Prediction

The renowned pro-XRP attorney John Deaton has refuted a claim that he predicted XRP would reach $10,000 and eventually attain Ethereum valuation.

This clarification follows his remark on XRP’s recent parabolic rise that saw it break to one of its highest levels in the last four months. 

Notably, the situation unfolded when Lukey Mo, a blockchain aficionado, posted an XRP chart illustrating the cryptocurrency’s impressive climb from $0.4735 to $0.6869 in less than a month.

Mo’s tweet was in admiration of XRP’s performance, noting that “XRP is pumping, and no one knows why.” In response, the pro-XRP lawyer suggested that XRP’s uptick may be seen as the “Rise of Legal Utility.”

I call it the Rise of Legal Utility. https://t.co/ZXQHTCvqaq

— John E Deaton (@JohnEDeaton1) November 6, 2023

Meanwhile, an XRP enthusiast reposted Deaton’s comment on XRP’s bullish trajectory. However, he added more words to Deaton’s statement, creating insinuations that are not inferrable from Deaton’s original comment.

In particular, he remarked: “According to John Deaton, the rise of XRP right now is the rise of legal Utility. There is no doubt once it gets the settlement, XRP will double its market cap and soon will overcome ETH’s market cap.”

Moreover, the tweet included gif content showcasing price projections of $10, $100, and $10,000. This display suggested that Deaton believes XRP could reach those figures. 

Deaton Reacts, Setting the Record Straight 

However, the lawyer gave a counter reply: “I never said all of this.” He clarified that the import of his statement is at variance with what the user posted.

Furthermore, Deaton distanced himself from the claim that XRP’s valuation could double Ethereum’s market cap following a settlement in the SEC vs. Ripple lawsuit. Moreover, the lawyer noted he never stated that XRP could reach $10, $100, and $10,000, as suggested.

Deaton commented:

“For the record, I’ve never said any of the rest. I’ve certainly never said or implied XRP was going to the numbers below.”

I never said all of this. I said today’s pump was called the rise of legal utility. For the record, I’ve never said any of the rest. I’ve certainly never said or implied XRP was going to the numbers below. https://t.co/QcPXCOp9jG

— John E Deaton (@JohnEDeaton1) November 6, 2023

Meanwhile, XRP has sustained its rally in the short-term, currently changing hands at $0.6966, with a 22% increase over the past week. Analyst Dark Defender recently set targets at $1.8 and $5.8.