Pro-Ripple Lawyer Shuts Down XRP vs Circle Rumors

Key Points

1. John Deaton refuted rumors that XRP competes with Circle, stating that Ripple, not XRP, is the entity involved in competition.

2. Ripple is entering the stablecoin market with RLUSD, not using XRP for this purpose.

3. XRP is a digital asset powering the XRP Ledger and is not part of the stablecoin race.

4. Confusing XRP (a token) with Ripple (a company) can lead to costly misunderstandings in the crypto market.

5. Dave Portnoy sold his XRP based on incorrect advice about Circle competing with XRP, resulting in a financial loss as XRP's value increased by over 38%.