Despite a positive court ruling, XRP’s price failed to reach the anticipated levels, disappointing some investors, including pro-XRP lawyer John Deaton.
The cryptocurrency experienced a brief rally, but it did not surpass the $1 resistance level that many had hoped for.
This comes after several weeks since Judge Analisa Torres declared XRP as not being considered a security under certain circumstances, leading to a surge in the cryptocurrency’s price within the broader Web3 ecosystem.
Addressing a post from a user named Moon Lambo on social media, Deaton acknowledged that XRP had grown by 85% this year, suggesting an overall positive trend.
However, he attributed some users’ disappointment to unrealistic expectations.
While Deaton didn’t expect XRP to reach a new all-time high after the court ruling, he did hope for it to break the $1 resistance level, which ultimately did not happen.
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Instead, the token experienced a significant surge of over 70% following the ruling, reaching $0.84.
XRP’s all-time high occurred over six years ago at $3.84, and while surpassing that price level may be overly ambitious, Deaton remains optimistic about reaching the $1 mark.
However, he cautions that XRP’s price is closely linked to the performance of Bitcoin (BTC).
Deaton, not being a market analyst, expressed his belief that unless BTC retests its all-time high, it is unlikely to see significant bullish momentum in the price of XRP.
As of now, XRP is trading at $0.6283. Despite the recent court ruling, it seems that reaching the anticipated price targets for XRP remains uncertain, heavily influenced by the performance of the broader cryptocurrency market, particularly Bitcoin.
Investors and enthusiasts continue to monitor the situation closely to gauge the future prospects of XRP and its potential for price growth.
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