Raoul Pal, a prominent financial expert and macro investor, recently acknowledged the remarkable surge in XRP’s price, which exceeded $2, and admitted to previously underestimating the cryptocurrency’s potential. Following XRP’s resurgence, which propelled it back to the third position on CoinMarketCap, Pal addressed the XRP community on social media, commending their resilience and vision. 🎉📈
"You Were Right, I Was Wrong"
In a post shared on December 1, 2024, Pal referred to XRP supporters as "Jedi Warriors," recognizing their steadfast belief in the cryptocurrency despite significant challenges. He admitted:
> "You were right, I was wrong. Well done! Dinosaurs still roam the earth."
Pal also acknowledged the difficulties the XRP community endured, referencing regulatory challenges that led to the coin's delisting from major exchanges in 2021. Despite his earlier criticism of XRP, he disclosed that he still holds some XRP acquired during the delisting period. 💪🛡️
Pal’s earlier remarks, made at the beginning of the year, described XRP and ADA communities as "cults" and urged caution when investing in older cryptocurrencies. However, XRP’s recent performance has led him to revise his stance, as the coin’s price more than doubled over the past week. 🚀💸
Ripple Unlocks One Billion XRP Amid Price Rally
The price rally coincided with Ripple unlocking one billion XRP from escrow, according to data from blockchain monitoring platform Whale Alert. At the current valuation, this release equates to over $2 billion. XRP, which was trading above $1 on November 24, has since experienced an extraordinary 85% price surge, reaching $2.41 at the time of writing. 📊💰
This recent growth reflects renewed market confidence in XRP and its ecosystem, particularly following Ripple’s legal and operational advancements in recent years. 🔥.
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