Raoul Pal, CEO of Real Vision, has publicly acknowledged that he was wrong about XRP, a cryptocurrency he had previously criticized for underperforming.
This comes amid a surprising turn of events where XRP is now trading above $2, transforming from an underperforming asset to one of the best-performing cryptocurrencies in just under a month.
During this time, it has surpassed BNB and Solana in market rankings, including the largest stablecoin USDT, now standing just behind Ethereum.
“XRP Warriors, I was wrong,” Pal said in a post on X today.
For context, in August, Pal had advised investors to consider moving away from XRP, calling it “dead.” He warned that holding onto XRP could lead to missed opportunities in the ongoing bull market. At the time, XRP was trading around $0.50, showing minimal growth and ranking among the worst-performing crypto assets.
Pal even suggested that XRP holders were being misled by a “cult-like” mentality, as they remained steadfast in their optimism. Other industry commentators also sided with Pal’s criticism. They urged investors to stay away from XRP and invest in better-performing tokens.
However, fast forward to December, and XRP has surged to over $2.50, experiencing a remarkable 400% increase in value.
Pal Applauds XRP Army Resilience
In light of this unexpected rally, Pal took to X to offer a heartfelt apology to the XRP community, stating:
“Dear XRP Jedi Warriors… You were right; I was wrong. Well done.”
Furthermore, Pal praised XRP holders for their unwavering belief in the asset. He clarified that his earlier criticism was not driven by malice but rather a desire to provide honest advice to investors.
He emphasized that he did not want them to miss out on potential opportunities by holding an asset that had been underperforming for years.
Moreover, he clarified that he still owns XRP tokens he bought in early 2021 during the massive delisting of XRP across centralized exchanges due to the SEC lawsuit.
“You guys/girls deserve everything,” he wrote, acknowledging the persistence of XRP proponents who endured long periods of underperformance.
Dear $XRP Jedi Warriors…
You were right, I was wrong. Well done! Dinosaurs still roam the earth 😉
I just want everyone to make $$ and you guys have walked through hell to get here. I still own some XRP from the delisting but you guys/girls deserve everything.
👏
— Raoul Pal (@RaoulGMI) December 1, 2024
XRP Army Reacts
Remarkably, members of the XRP community welcomed Pal’s message with open arms, acknowledging his courage to admit he was wrong.
Panos Mekras, co-founder of Anodos Finance, called on Pal to look deeper into the XRP Ledger. He described it as the “real OG DeFi chain” with the first decentralized exchange (DEX), stablecoins, and advanced payment features.
Mekras noted that with all the upcoming developments and features, XRP Ledger is one of the best places to build and use, and it’s far from a “dinosaur.”
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
