Real Vision CEO Raoul Pal has admitted his past mistakes about XRP. Pal has been a popular critic of the asset, always ripping into it for underperforming. In a post on the microblogging platform, X Pal apologized to XRP enthusiasts, telling them he was wrong to have undermined the potential of the digital asset.
In his post, he referred to the believers of the token as XRP Jedi Warriors, hailing their foresight to see the potential of the asset even when he didn’t see it. This apology is coming after XRP made a massive rally to hit the $2 mark. The asset also pushed up in terms of market cap, reclaiming its third position. He noted that the token had been through hell to get to where it is now, saying that he still holds tokens he got during the delisting period.
Real Vision boss apologizes as XRP makes major climb
One of the reasons why Pal, like others in the market, lost faith in the asset was due to several delistings following the SEC lawsuit. The SEC alleged that the asset was an unregistered security, leading to a protracted lawsuit. Although most platforms removed the assets, they still allowed users to deposit and withdraw them from their platforms.
In August, Pal called XRP and ADA cult coins, asking why investors were still holding the tokens. At the time, XRP was witnessing slowed progress, with the asset trading sideways and ranking among the worst-performing assets at $0.50. However, Pal’s stance quickly changed after the asset witnessed a surge, breaking above $1 before smashing the $2 mark. The token is trading at $2.40, posting an impressive 400% rise.
Ripple set to push forward with its RLUSD plan
With its recent surge, XRP has now overtaken assets like Solana and BNB on its way to the top. Flipping USDT, it is now comfortably placed in third position according to market cap behind Ethereum. Meanwhile, most of the market population has credited XRP’s surge to the unrelenting efforts of its ‘army’ of supporters.
The token did not catch on to the Trump-fuelled rally that other tokens witnessed in November, due to its regulatory issues with the SEC. Despite getting a favorable verdict from the court before the election, investors were uneasy due to the regulator’s appeal of the ruling. Before the lawsuit, XRP had a $15 billion market value, ranking as the third largest by market cap. It also dropped from around $0.50 to $0.17 during the period.
Another factor that could add to its momentum is Ripple’s announcement of its stablecoin launch. While the company waits on the green light from the financial regulator the New York Department of Financial Services (NYDFS), the launch is projected to happen on December 4. If the approval comes, the company can legally open the stablecoin to the general public.
The post Real Vision CEO admits XRP mistake as token surges 400% first appeared on Coinfea.
