XRP Community Praised by Raoul Pal: ‘You Were Right, I Was Wrong’

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As a seasoned researcher and investor with decades of experience under my belt, I have seen countless cryptocurrencies rise and fall. However, the recent surge of XRP, as acknowledged by Raoul Pal himself, has left me quite intrigued and somewhat humbled.

Raoul Pal, a well-known financial authority, shared a tweet expressing his surprise over the sudden surge in XRP’s price and acknowledging that he may have underestimated the potential of this widely-used cryptocurrency within the XRP community.

Following a significant surge, the digital currency associated with Ripple, XRP, climbed above the $2 mark and reclaimed its previous third place ranking on the CoinMarketCap list.

“You were right, I was wrong”: Raoul Pal

The crypto expert addressed XRP enthusiasts among his X followers and those all over the social media giant, calling them “XRP Jedi Warriors”. Pal admitted that he was wrong, while they proved right about the potential and the future price rally of the XRP coin: “You were right, I was wrong. Well done! Dinosaurs still roam the earth.”

Dear fellow XRP enthusiasts,

— Raoul Pal (@RaoulGMI) December 1, 2024

Additionally, he acknowledged that the XRP community had endured a tough journey to reach this point. He further emphasized that he himself still holds some XRP from the periods when the coin was delisted due to the SEC’s lawsuit against Ripple in 2021. During this time, major exchanges such as Coinbase, Binance US, and Bitstamp halted XRP trading, but allowed users to keep their XRP in wallets on these platforms and also facilitated withdrawals and deposits of XRP.

To begin the new year, Raoul Pal expressed strong criticism towards XRP and Cardano (ADA) coins, labeling them as “cult-like” and advising potential investors to steer clear of these established cryptocurrencies.

After XRP successfully breached the $1 mark and subsequently rose above the $2 threshold, Pal acknowledged that his previous assertions were incorrect.

Ripple shovels one billion XRP as price jumps above $2

According to data from the well-known crypto tracker Whale Alert, it was found on December 1 (Sunday) that the blockchain titan Ripple released an enormous amount of one billion XRP tokens from its escrow account.

Currently, with its price being what it is, we’re looking at over $2 billion in traditional currency equivalent when it surpassed $2 on Sunday. This was a significant jump following a 63% increase since November 24, when it had already moved beyond the $1 mark. Over this period, XRP has experienced an astonishing price rise of 84.78%, with its current value being around $2.41 as I write this.

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2024-12-02 11:04