It appears that cryptocurrencies are recovering from a phase of collapse in the industry, which was caused by FTX and Alameda. On significant spot exchange platforms, Bitcoin (BTC) briefly jumped to $23,330 on January 21, 2023, reaching heights not seen since August 19, 2022 and hitting new five-month highs.
John E Deaton recently tweeted that he believes that Bitcoin (BTC), Ethereum (ETH), and the XRP token will still be standing in five years’ time. Let’s explore the meaning behind this statement.
Future Outlook For BTC, ETH, and XRP
Blockchain enthusiast and founder of CryptoLaw John Deaton predicts that XRP (XRP), Bitcoin (BTC), and Ethereum (ETH) will all still be standing in five years.
Returning to a forecast he made in August of last year, John E Deaton referenced research by the Head of Assets at Zurich-based Sygnum Bank that suggested three digital assets of the future: Bitcoin as a store of value, Ethereum for infrastructure, and XRP for payments. Deaton maintains his projection because, except for the ongoing Ripple litigation, nothing has changed for XRP since 2020, when the prediction was made.
XRP Remains Resilient
The SEC filed a lawsuit against Ripple Labs and two of its officials in December 2020, stating that $1.3 billion in XRP sales constituted unregistered securities. The price of XRP plunged significantly to roughly 20 cents shortly after the lawsuit was filed. Despite this, and the subsequent removal from certain exchanges’ lists, XRP has maintained its position as one of the top 10 cryptocurrencies by market capitalization.
This demonstrates the resilience and the value proposition of XRP, which remains unaffected by external factors. XRP has remained one of the top 10 cryptocurrencies for the past ten years. Since its debut in June 2012, the XRP Ledger platform has been functioning seamlessly.
Between the close of 2017 and the start of 2018, XRP saw a tremendous rise, surging by thousands of percent and briefly overtaking Ethereum as the second-largest cryptocurrency.
The crypto community paid close attention to this prediction made by Deaton. Many of them agree with the prediction, while others agree only partially. Some have even gone so far as to predict that Ethereum (ETH) won’t last very long. Some have additionally contributed to the list Deaton has stated.