On social media X, Raoul Pal praised XRP holders for their strong faith in the altcoin. He explained that he criticized XRP not out of spite, but out of a desire to give investors honest advice. Pal clarified: he simply did not want investors to miss out on potential opportunities by holding onto a crypto asset that has been underperforming for several years.
According to Pal, he still has XRP, which he bought in early 2021 during the mass delisting of the coin from centralized exchanges due to the US Securities and Exchange Commission (SEC) lawsuit against Ripple. Let us recall that at the end of 2020 the regulator accused the company of violating securities laws.
Pal’s remarks come after XRP began trading above $2, becoming a sought-after altcoin in just a month. Over the week, the crypto asset grew by 54%, and within 24 hours – by 25%. XRP is now in third place by market capitalization after Bitcoin and Ethereum, overtaking the largest stablecoin USDT, as well as the cryptocurrencies BNB and SOL.
In August, Pal advised investors to move away from XRP, calling the altcoin “dead.” He warned that by hoping for XRP to rise, investors may miss out on other noteworthy cryptocurrencies during the next bull run. At the time, XRP was trading around $0.50 per coin.
Recently, the head of Real Vision mentioned DOGE and SUI memcoins, saying that they are entering the so-called “banana zone”, when the price of crypto assets is steadily rising. Pal advised investors not to give in to the hype and invest in leading cryptocurrencies.
Source: Bits
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