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Crypto Expert Raoul Pal Reveals His XRP Strategy

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Fri, 22/11/2024 - 12:09
Crypto Expert Raoul Pal Reveals His XRP Strategy
Cover image via U.Today

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As XRP continues to melt the faces of haters and skeptics with its skyrocketing price action, many made a U-turn on this popular cryptocurrency and began to wonder what the prospects of this crypto market old-timer actually are. In one of these miracles, Raoul Pal gave his verdict on XRP, answering one of the followers' questions. 

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The trading expert revealed that his sentiment on the popular cryptocurrency is actually positive and that XRP "will do well." 

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He confirmed that he still holds some XRP tokens purchased back in 2020, when the asset first became the focus of legal scrutiny in the United States.

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XRP’s regulatory challenges stem from its association with Ripple, the San Francisco-based blockchain company leveraging the token in its cross-border payment solutions. In 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, alleging the unregistered sale of securities. 

XRP: Price outlook

As XRP skyrocketed more than 178% since the beginning of November, Pal revealed that he owned and still owns a bit of XRP since his legal troubles in 2020. Despite not really performing against Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) since then, Pal described himself as a profit maximalist, so he is "happy" to go where he sees the best returns on his capital. 

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XRP to USD by CoinMarketCap

"Nothing wrong with XRP and wish it well," concluded the trading expert. 

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Currently, the price of XRP stands at $1.42, which is the highest price for the token since September 2021. The all-time high for the sixth largest cryptocurrency currently stands at $3.317 per XRP, which is still 130% higher than the current level.

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