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- Pro-XRP attorney John Deaton opines that Fear of Missing Out (FOMO) among investors will not kick in until XRP’s price surges past $2.
- Despite XRP currently trading below $1, Deaton believes investors are missing out on a potential investment opportunity by refusing to purchase it at this lower price.
Pro-XRP attorney John Deaton recently shared his thoughts on the current reluctance of investors to buy XRP while its value is below $1. Deaton, the founder of CryptoLaw, suggested that this investor reticence reflects a missed investment opportunity, as they are likely to rush in when the asset’s price crosses the $2 mark.
Investor Apathy Toward Low-Value XRP
In a tweet, Deaton expressed his surprise at how many people who are currently refusing to buy XRP at $0.48 would potentially jump in when the price surpasses $1. He stated,
“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.”
#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 remarks resonate with the sentiment of several prominent analysts who anticipate significant gains for the asset in the near future. However, Deaton predicts that the broader crypto community is unlikely to take part in the upcoming XRP rally until the asset price exceeds $2. He elaborated,
“What’s even crazier is that FOMO won’t likely kick in until $2.”
These comments reflect a common behavioral pattern among investors where most tend to join the rush when an asset’s value has already seen significant growth, thereby escalating the FOMO effect.
Prominent Analysts Predict a Bright Future for XRP
Deaton’s statement aligns with a similar prediction made by Egrag, a proficient chartist. Egrag declared last month, as reported by The Crypto Basic, that XRP trading below the $1 price level could offer a “life-changing” investment opportunity for investors. This bold statement underlines Egrag’s belief in a forthcoming price surge for the asset.
Egrag’s recent analysis outlined that XRP is currently at a critical juncture, with the potential to either hit $3.3 or even surge to $250. Responding to Deaton’s comments, another analyst, JD, commented that XRP is presently trapped within a bullish symmetrical triangle. JD predicts that XRP will likely break out of this pattern by September, leading to a significant rally.
As of now, XRP is trading at $0.4786, up 4.38% over the past week. The digital asset has recorded consecutive wins over the past four days, resulting in a 6.29% increase during this period.