Here’s How Much XRP Has Risen Since Jim Cramer Called It a “Giant Con”

The price of XRP has surged nearly tenfold since CNBC host Jim Cramer dismissed it as a “giant con.”

In a recent tweet, XRP commentator “NFAdotcrypto” resurfaced a 2022 discussion in which Cramer labeled the asset a “giant con.” At the time of his remark, XRP was trading at approximately $0.38.

Notably, the crypto community has long joked that Cramer’s investment calls often mark market bottoms. XRP appears to be yet another prime example.

Shortly after his comment, XRP began a multi-year rally. The movement was fueled by favorable court rulings, increased institutional adoption, and the expansion of Ripple’s payment infrastructure.

How Much Has XRP Increased Since Cramer’s Statement?

XRP has climbed nearly 10X from $0.38 at the time of Cramer’s statement to a current price above $3. Specifically, XRP is now trading at $3.20, with a recent peak of $3.66 last week. 

This represents a staggering 742% gain since Cramer’s controversial comment. When factoring in the recent high, the gains exceed 863%. These figures highlight a monumental price recovery and growth that few, especially Jim Cramer, anticipated. 

Other tokens Cramer has publicly criticized have followed similar trajectories, turning negative sentiment into bullish momentum. Meanwhile, Cramer isn’t the only XRP critic whose bearish call has backfired.

Forbes Once Called XRP a “Zombie”

In March 2024, Forbes dismissed XRP as a “zombie” and a “good-for-nothing” token. At that time, XRP traded at $0.60 with a $36 billion market cap.

Forbes also criticized Ripple for its perceived lack of progress in replacing SWIFT and questioned XRP’s real-world utility, despite its high trading volume. It grouped Ripple with 19 other billion-dollar crypto projects labeled as “functional zombies.”

However, XRP has since rebounded, reaching over $3.6 and adding more than $180 billion to its market cap. Several other tokens criticized in the same report have also posted major gains, leading to criticism of Forbes’ failed predictions.

Raoul Pal Called XRP an “Old Narrative,” Then Admitted He Was Wrong 

Separately, in August 2024, Raoul Pal, founder of Real Vision, warned XRP investors to prioritize profits over emotional attachment. He criticized what he described as a “cult-like” mentality within the community.

Pal urged holders to move on from “old coins” like XRP and instead focus on newer narratives in the bull market. He argued that ideological attachment could cost investors substantial gains.

However, shortly after his remarks, XRP surged over 550%, jumping from $0.50 to more than $3.50.

Remarkably, Pal publicly admitted he was wrong. In a post on X, he praised XRP holders for their resilience and acknowledged their long-term conviction in the project. He clarified that his earlier comments were intended to help investors avoid missed opportunities.

XRP supporters welcomed the admission. Panos Mekras of Anodos Finance even encouraged Pal to explore the innovations of the XRP Ledger.