Ripple News: John Deaton Calls XRP a Cockroach, that Cannot Be Killed
The post Ripple News: John Deaton Calls XRP a Cockroach, that Cannot Be Killed appeared first on Coinpedia Fintech News
John E. Deaton, a crypto legal expert and amicus curiae for blockchain company Ripple, claims that XRP is the most resilient cryptocurrency, capable of surviving anything. Deaton made this statement on Twitter after a recent CoinDesk report covering XRP’s dominance in Korea’s top exchanges.
Deaton’s tweet was in response to CoinDesk’s tweet, and he added that no other coin has been more resilient, even after facing numerous attacks from industry leaders and regulators such as the US Securities and Exchange Commission (SEC).
XRP has been criticized by Cardano and Ethereum founder Charles Hoskinson, Ethereum co-founder Vitalik Buterin, and some Bitcoin maximalists who have backed the SEC against XRP. Despite all this, XRP has proven to be resilient, and Deaton likens it to a cockroach, even claiming that a nuclear war wouldn’t kill it.
XRP Trade Volume Dominance on South Korean Exchanges
XRP trade volume across South Korea’s top cryptocurrency exchanges has recently surged, and XRP currently dominates the market share in Korea’s four largest exchanges, overtaking Bitcoin.
CoinMarketCap data shows that XRP has overtaken BTC in trade volume dominance on UpBit, Bithumb, Coinone, and Korbit, all among South Korea’s top five cryptocurrency exchanges.
Emily Parker, Executive Director at Coinbase, believes that the surge in dominance is due to the growing demand for XRP by South Korean traders and renewed optimism on the legal tussle between Ripple and the SEC.
Related: Coinbase CLO Criticises SEC’s Proposed Crypto Asset Securities Rule – Coinpedia Fintech News
XRP Price Analysis
XRP is currently valued at $0.5151, and its rate has declined by 0.23% since yesterday. However, the price has risen by 14.5% over the last seven days. On the local chart, the price has made a false breakout of the support at $0.5118.
While the rate is above that mark, there is a chance to see slight growth. In this case, the upward move may lead to a test of the resistance at $0.5119. Such a scenario is relevant until the end of the day.
On the bigger time frame, buyers remain under sellers’ pressure as the price is closer to the support than to the resistance. However, if bulls can hold the rate above the vital zone of $0.50, one can expect a rise to the middle of the channel, to around the $0.55 mark.
