Raoul Pal, a prominent financial expert, has posted a tweet commenting on the recent abrupt growth in the XRP price, admitting to the XRP community that he was not quite right about this popular coin.
This happened after Ripple-affiliated cryptocurrency XRP displayed a staggering spike above the $2 level and recaptured its long-lost third place on the CoinMarketCap scale.
"You were right, I was wrong": Raoul Pal
The crypto expert addressed XRP enthusiasts among his X followers and those all over the social media giant, calling them “XRP Jedi Warriors.” Pal admitted that he was wrong, while they were proven right about the potential future price rally of the XRP coin: “You were right, I was wrong. Well done! Dinosaurs still roam the earth.”
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Dear $XRP Jedi Warriors...
You were right, I was wrong. Well done! Dinosaurs still roam the earth ;-)
I just want everyone to make $$ and you guys have walked through hell to get here. I still own some XRP from the delisting but you guys/girls deserve everything.
👏
— Raoul Pal (@RaoulGMI) December 1, 2024
He also admitted that the XRP community has “walked through hell to get here.” He also reminded the community that he still owns some XRP from the “delisting times” the coin faced in 2021 when, after the SEC unleashed its lawsuit on Ripple and XRP, claiming the latter to be an unregistered security, many leading exchanges, including Coinbase, Binance US and Bitstamp, began to suspend XRP trading but still allowed their users to hold XRP in the wallets on those exchanges and also to withdraw and deposit XRP at will.
At the start of the year, Raoul Pal was pretty critical of XRP and ADA coins, stating that they had turned into a “cult” and suggesting that investors should avoid those old coins.
Now that XRP has finally surpassed first $1 and then surged above the $2 level, Pal admitted that he was wrong previously.
Data shared by the popular crypto tracker Whale Alert, which monitors large cryptocurrency transactions, spotted that, on Dec. 1, Sunday, the blockchain giant Ripple unleashed a whopping one billion XRP coins from escrow.
At the current price, this was the equivalent of more than $2 billion in fiat as the price broke above $2 on Sunday after demonstrating a 63% surge since Nov. 24, when it was trading above $1 already. Overall, from that day until now, XRP has witnessed a mammoth 84.78% price race and is changing hands at $2.41 at the time of this writing.
