It’s been just revealed that there could be massive FOMO when the XRP price breaks $2. Check out the latest reports about this below.
XRP FOMO is on its way
According to a lawyer who is backing Ripple Labs in its legal battle against the U.S. Securities and Exchange Commission (SEC), traders are likely to feel a sense of FOMO as soon as XRP reaches the $2 mark.
Deaton law firm managing partner John Deaton hypothesizes that only when XRP does 5x will people want it.
“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.”
Deaton has put forth his theory following a recent federal judge ruling that permits the utilization of the “Hinman speech” in the case.
Back in 2018, William Hinman, the ex-Director of Corporation Finance at SEC, delivered a speech in which he declared Ethereum (ETH) as a non-security asset.
It is possible that the case could experience a significant turning point as a federal judge has ordered the release of the SEC’s emails in May 2023, according to Deaton.
“Here’s what I can practically guarantee: if Hinman’s speech had been screened/cleared or approved by the SEC Ethics office we would have heard about it long ago. Being able to say the Ethics Chief cleared my speech would act as a proverbial get out of jail-free card.”
Speaking at the Dubai Fintech Summit, Ripple CEO Brad Garlinghouse revealed the fact that the company is looking to grow and become more than just a payments platform and liquidity provider.
“I think [what] will be next is certainly something Ripple thinks about. We started with enterprise-based cross-border payments. We talked about there being four primitive pieces to blockchain-based technologies: liquidity, compliance, custody and tokenization.”
He continued and said the following:
“And Ripple really aspires to be more than just that liquidity and cross-border payments. I think you’d expect that we will expand into some of those other areas, either organically or through acquisition.”
