Raoul Pal Admits He Was Wrong And XRP Army Was Right As Ripple’s XRP Hits Seven-Year High

Bitcoin may have led the charge across the crypto market since Donald Trump’s election victory last month, but Ripple-linked XRP is enjoying much bigger gains of late. And today, it reached a price not seen in nearly seven years, subsequently making a historic comeback as the third-largest crypto by market cap. XRP’s rally has caught the attention of the cryptoverse, with Real Vision CEO Raoul Pal publicly admitting that he was wrong about XRP — a coin he had previously slammed for being a laggard. “You Were Right, I Was Wrong” Ripple’s XRP fell out of the top 3 elite crypto club in December 2020 as the U.S. Securities and Exchange Commission (SEC) sued the San Fransisco-based fintech firm for allegedly raising $1.3 billion in an unregistered securities offering. With Ripple claiming several legal wins this year and the SEC’s case nearing resolution in the near future as the agency’s chair Gary Gensler prepares to step down in January, XRP has surged meteorically in recent weeks, outperforming other crypto majors. After lagging behind Bitcoin, Ethereum (ETH), Tether’s USDT, Solana (SOL), BNB, and Circle’s USDC for years, XRP has finally reclaimed its spot as the third most valuable crypto in the market. On Dec. 2, the price of XRP jumped to a recent high of $2.79, according to data tracked by CoinGecko . The last time the Ripple-promoted token was trading above $2.7 was in early 2018, just after setting its all-time high peak of $3.40. That was roughly seven years ago. XRP has jumped by approximately 96% over the last week, pushing its 30-day gain to 443%. Amid this upsurge, well-known industry pundit Raoul Pal took to X (aka Twitter) to address XRP fans, referring to them as “XRP Jedi Warriors.” Pal admitted being wrong, while XRP investors were right about the crypto’s bullish price action. “You were right, I was wrong. Well done! Dinosaurs still roam the earth.” Raoul Pal Praises XRP Community’s Resilience The Real Vision CEO also revealed that he still owns some XRP from the “delisting times” the coin suffered after the SEC lodged its lawsuit against Ripple. He further commended XRP holders for their unwavering conviction in the asset despite the regulatory cloud that hung over it for four years. According to him, XRP investors have “walked through hell to get here.” Notably, Pal had urged investors to ditch XRP in September, dubbing it “old.” He claimed investors would miss out on the bull market by holding XRP. The token was changing hands at 50 cents at the time, indicating lackluster growth and ranking among the worst-performing crypto majors. Pal went as far as to suggest that XRP investors were doing themselves a disservice by being in a “cult.” However, XRP has proven Pal wrong, skyrocketing amid expectations of a crypto-friendly Trump administration and the significant progress on Ripple’s dollar-pegged, overcollateralized RLUSD stablecoin .