Raoul Pal, CEO of Real Vision, has publicly admitted that he was wrong about XRP, a cryptocurrency he had previously criticized for underperforming. In an X post reaching out to Ripple enthusiasts, Raoul said:
You Were Right, I Was Wrong. Well done! Dinosaurs still roam the earth.
Raoul Pal
Referring to them as “XRP Jedi Warriors.” the crypto expert admitted his misjudgment while acknowledging their foresight regarding the token’s potential price rally.
This comes after Ripple-affiliated cryptocurrency XRP experienced a dramatic rise beyond the $2 threshold, reclaiming its long-lost third position on the CoinMarketCap rankings.
Pal also conceded that the Ripple community had “walked through hell to get here.” He reminded his audience that he still holds some of the Ripple tokens from the turbulent “delisting times” in 2021. During that period, following the SEC’s lawsuit against Ripple and XRP—alleging the token was an unregistered security—several significant exchanges like Coinbase, Binance US, and Bitstamp suspended XRP trading.
However, these platforms continued to allow users to hold Ripple in their wallets and enabled withdrawals and deposits without restrictions.
XRP outperforms BNB, Solana, and USDT
In August, Raoul Pal expressed skepticism about XRP and ADA, labeling them “cult” coins and cautioning investors against investing in these older assets. At that time, Ripple was trading around $0.50, showing minimal growth and ranking among the worst-performing crypto assets.
With XRP’s recent breakthrough—first surpassing $1 and then surging beyond $2—Pal has admitted his earlier stance was incorrect. The token has surged to over $2.40, experiencing a remarkable 400% increase in value.
The token has surpassed BNB and Solana in market rankings, including the largest stablecoin, USDT. It is now just behind Ethereum.
Ripple unlocks 1 billion XRP as token surges
The cryptocurrency market saw a general gain during the “Trump trade” phenomenon in November, although Ripple experienced minor setbacks due to its protracted regulatory limbo. Investors were greatly uneasy because the US SEC complaint claimed that Ripple was an unregistered security.
Before these regulatory issues, XRP was the third-largest cryptocurrency by market cap. However, when the SEC sued Ripple in December 2020, its price dropped from around $0.50 to $0.17, erasing over $15 billion in market value. Now, the crypto’s supporters are optimistic about the regulatory situation improving.
Another source of optimism is Ripple’s impending stablecoin, RLUSD. It is scheduled to launch on December 4, 2024, and is just awaiting approval from the New York Department of Financial Services (NYDFS). Once approved, Ripple can legally offer RLUSD to the public.
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