John Deaton, a U.S. attorney known for his strong advocacy of digital currencies, has once again shared his thoughts about what role he hopes CNBC's Mad Money host Jim Cramer should play in the XRP ecosystem. Commenting on a short video clip of Cramer shared by a Twitter user, Deaton believes Cramer is better off as a critic of the payment token and its ecosystem.
In the short clip, Cramer was talking about the securities enforcement action being brought on crypto firms by the two dominant U.S. regulators. In the comment, Cramer made a reference to the ongoing brawl between blockchain payments firm Ripple Labs Inc and the U.S. Securities and Exchange Commission (SEC), noting the regulator might not even win the case.
While it is not evident that Deaton was aggrieved by the subtle show of support, he believes a consistent criticism of the XRP coin will be better for the digital currency in the long term. In his words, Deaton said:
The very moment XRP’s price stopped moving upward and did a 180 turn was win @jimcramer said Ripple might win. Jimmy Chill can you go back to calling it a scam please?
Getting used to critics
Members of the crypto ecosystem seem to have attached a role-playing identity to some critics like Jim Cramer and Peter Schiff. With the current evolution of the industry, it is believed that the opposite of their calls or recommendations is usually what comes to pass, and crypto traders are well used to this.
Despite being a believer in crypto at some point, Cramer has been using his platform to call on crypto investors to find a perfect exit point to sell off their assets as he believes the price of most cryptocurrencies will plunge to naught in due time.
Since the calls, no crypto has slipped to zero, with most gaining moderate momentum despite the FUD in the industry.