XRP is causing a stir in the cryptocurrency world as its price surge defies expectations, leaving former critics questioning their stance on the asset.
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Among those reevaluating XRP’s future is Raoul Pal, a well-known trading strategist and ex-Goldman Sachs executive, who recently shared his positive outlook on the cryptocurrency. In response to a follower’s inquiry, Pal stated that he believes XRP “will do well,” and revealed that he still holds a portion of the tokens he acquired in 2020, when XRP was facing legal challenges in the U.S. Coinzilla Banner 300×250
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The legal troubles surrounding XRP are tied to its relationship with Ripple, the San Francisco-based blockchain firm that uses the cryptocurrency for its cross-border payment solutions. .dark-mode .read-more {background-color: #343a40 !important;}
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Ethereum Whale Awakens: $224M Selloff Sparks Market Uncertainty These issues began in 2020 when the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, accusing it of conducting an unregistered securities offering with XRP. Since early November, XRP has surged by over 178%, catching the attention of many, including Raoul Pal. He disclosed that he has held onto some XRP since 2020, when the cryptocurrency faced significant legal hurdles.
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Although XRP has struggled over the years, Pal, who describes himself as a profit-driven investor, emphasized that he’s always ready to move where he sees the greatest potential for returns. 