In a post on X, John Deaton, an advocate for XRP, debunked new rumors suggesting that XRP is directly competing with Circle. The confusion arose after Dave Portnoy from Barstool sold his XRP following the notice that Circle would rival the token.
According to Portnoy, he admitted to regretting the decision and said in a video: "I want to cry." After selling his stock at $2.40, the token rebounded to $3.60.
The crypto asset has outperformed Bitcoin, with an increase of nearly 23% in the last seven days. Deaton explained that XRP and Circle are not competitors. Ripple, the company behind RLUSD, operates in the same market as Circle.