Renowned investor, financial expert and Gold Bullion International cofounder Dan Tapiero took his X account to praise the massive surge XRP made over the last month - and also to make an important statement about Ripple and its CEO.
Tapiero makes important Ripple and XRP statement
Investment expert Tapiero published a tweet, saying that over the past four weeks, XRP has added more than 400% in terms of market capitalization. Tapiero said that most investors "misunderstood" or simply did not understand "cryptocurrency in XRP," which has been "constantly pilloried on X," he pointed out.
Tapiero is certain that this was not a random price jump of 400% within four weeks: “adding $100b in 4 wks did not happen by mistake...not an error.” For the first time since 2018, XRP has soared to the $2.40 price level and reclaimed a position in the top three on the CoinMarketCap scale of cryptos.
Added $100b of value in 4 weeks. +400%.And does anyone really knows why?Most misunderstood or simply not understood #cryptocurrency in #XRP.Constantly pilloried on X.But adding $100b in 4 wks did not happen by mistake...not an error.@bgarlinghouse @Ripple vindicated. pic.twitter.com/Lwct5ywxZW
— Dan Tapiero (@DTAPCAP) December 2, 2024
The main reason for the XRP surge, Tapiero seems to believe, is the recent victories of Ripple in court against the Securities and Exchange Commission. Last July, Federal Judge Analisa Torres ruled that XRP sales to retail investors on exchanges did not qualify as securities, and in September this year, the judge’s ruling reduced the $2 billion fine requested by the SEC from Ripple to merely $125 million.
After that, the SEC filed an appeal to the Supreme Court; however, following certain political pivotal events in the United States this November, SEC Chairman Gary Gensler announced that he would be stepping down from his position in January 2025. This gave XRP massive additional momentum, along with the expectation that the U.S. government will finally introduce adequate crypto regulation rules next year. "@bgarlinghouse @Ripple vindicated," Tapiero said in his tweet.
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Raoul Pal on XRP surge: "Banana Zone arriveth"
Cryptocurrency expert and the CEO of Real Vision Raoul Pal has issued two tweets to comment on the drastic XRP price surge that has taken place since Sunday, as the third largest cryptocurrency XRP surpassed the much-awaited $2 price level and is currently trading at $2.35 after hitting $2.42 earlier today.
Ok, $XRP Jedi's...I know you are winning but can you leave some crumbs for the rest of us...blimey... its fucking rocket ship! The Banana Zone arriveth. 🍌
— Raoul Pal (@RaoulGMI) December 1, 2024
Pal, who earlier this year had called XRP and ADA old "cult" coins, urging investors to avoid them, admitted that he was wrong and said that the "Banana Zone arriveth" for XRP.
