Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Lark Davis, a crypto influencer and YouTuber, believes Ripple will prevail in its SEC lawsuit. Despite his high optimism, he says he still will not buy XRP. "I hope that XRP wins their court case...but I am still not going to buy it," Lark Davis tweeted.
I hope that #XRP wins their court case… but I am still not going to buy it.
— Lark Davis (@TheCryptoLark) January 27, 2023
As reported by U.Today, CryptoLaw founder John Deaton says ''he has zero doubt that the current makeup of the U.S. Supreme Court will rule in favor of Ripple, as the SEC did not limit its allegations to only apply to Ripple’s sales of XRP. It went too far.''
Fun fact the first three coins I bought after #bitcoin were #xrp, $xem and $dgb. Only XRP has really stood the test of time. And had I kept my bag I would still be up a lot haha.
— Lark Davis (@TheCryptoLark) January 27, 2023
In subsequent tweets, the YouTuber says that XRP was among the first three coins he bought after Bitcoin, and only "XRP has really stood the test of time," he emphasized.
XRP has been in the top 10 cryptocurrencies by market capitalization for over a decade and is currently the sixth largest at press time.
Lark Davis further added that "had he kept his bag, he would still be up a lot."
While the reason behind the crypto influencer's decision not to buy XRP is personal, the fact remains that XRP is one of the most misunderstood cryptos in the world, according to CryptoLaw founder John Deaton.
A common misunderstanding is mixing up Ripple and XRP. Ripple is a company building a payments infrastructure, crypto solutions and software for businesses and institutions. XRP is the native token of the XRP Ledger (XRPL) blockchain technology.
Tomiwabold OlajideAnother source of misinformation has to do with the decentralization of XRP. Justin Bons, the founder of Cyber Capital, claimed XRP is centralized in recent tweets, saying it has a permissioned validator set.
The fact remains, however, that Ripple only runs one of the 35 UNL validators; the rest are individually operated, making the XRPL network sufficiently decentralized. XRPL validators span the globe and include companies, universities and individuals, and none of them could make more XRP.
Alex Dovbnya
Arman Shirinyan
Dan Burgin
U.Today Editorial Team
Vladislav Sopov