The post Ripple’s XRP Advocate John Deaton Shares Unprecedented Financial Advice on Social Media appeared first on Coinpedia Fintech News
Ripple’s XRP advocate, John Deaton, known for his outspoken opinions and insights on social media, interviews, and blog posts, recently took an unprecedented step. Breaking from his usual pattern of commentary, Deaton offered direct financial advice on social media platform X, focusing on the best time to buy XRP.
Deaton publicly provided financial advice in a remarkable departure from his usual posts, a move he had never made on this platform. This series of posts was initiated in response to a crypto enthusiast, Josh Butts, who claimed to have lost money due to Deaton’s previous posts about the rumored BlackRock iShares XRP Trust Entity registration in Delaware.
Addressing this situation, Deaton stated, “I’m going to do something I’ve never done on this site: I’m going to give financial advice on how to profit off FOMO.” Using XRP as a case study, he referenced the recent false news regarding BlackRock’s XRP ETF filings, which led to a temporary surge and subsequent fall in XRP’s price.
Deaton advises against purchasing assets based on “new news” that triggers FOMO, suggesting that such a moment is the time to sell. He explains that the smart move is to buy cryptocurrency before the onset of FOMO. For instance, before Judge Analisa Torres’ verdict in the Ripple-SEC case, the price of XRP rose sharply, creating an opportune moment for selling at its peak.
Deaton shares his strategy, revealing that he acquired significant XRP before Judge Torres’ announcement but hasn’t made any purchases since. He uses this and the BlackRock report incident to demonstrate the risks of buying fake news, emphasizing the potential for losses instead of gains.
John Deaton’s shift to offering direct financial advice marks a new approach in his social media engagement, providing his followers with specific strategies for navigating the volatile cryptocurrency market, particularly concerning XRP.