John Deaton, a prominent advocate for XRP, has clarified that XRP does not compete with Circle's stablecoin, USDC. His comments came in response to confusion sparked by social media discussions about Ripple’s RLUSD and XRP. Deaton addressed claims suggesting a direct competition between XRP and Circle, which led to Barstool Sports founder Dave Portnoy selling his XRP holdings based on misguided advice. Portnoy later expressed regret after XRP reached a new all-time high, admitting he acted on incorrect information. Deaton emphasized that Ripple and Circle are distinct entities operating within the same financial space but not competing with their tokens. He explained that XRP is a digital asset that facilitates the XRP Ledger, while RLUSD, Ripple's upcoming stablecoin, aims to compete with USDC and USDT. Deaton highlighted the importance of understanding the differences between XRP and Ripple's business activities to avoid poor financial decisions. He also noted that Ripple and Circle had previously explored potential partnerships, reinforcing the idea of collaboration rather than competition. Read more AI-generated news on: https://app.chaingpt.org/news

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