Pal bets on XRP
Raoul Pal, a former Goldman Sachs executive and now CEO of Real Vision, recently revealed that he is betting on XRP and has been holding onto the cryptocurrency for months. Pal claimed that he spotted the “opportunity of a lifetime” after the U.S. Securities and Exchange Commission sued Ripple and two of its executives over XRP.
SEC Lawsuit
The SEC filed a lawsuit against Ripple Labs Inc. and two of its executives, alleging that they raised over $1.3 billion through an unregistered, ongoing digital asset securities offering. This led to the price of XRP plunging to a low of $0.27 before starting to recover as it was delisted from various major exchanges.
XRP Recovery
Raoul Pal believes that the crisis created a “vibrant community with real use cases” for XRP, noting that the cryptocurrency has since been relisted on most major exchanges and is now trading at $0.63 per token.
The Future of Crypto
Pal predicts that the cryptocurrency space could expand to manage $1 quadrillion in value and that BlackRock’s push for a spot Bitcoin exchange-traded fund could lead to a massive influx of capital into blockchain and crypto platforms.
Optimistic Outlook
Pal has offered an optimistic outlook on the trajectory of the cryptocurrency markets, expecting considerable growth within the second half of this year and believing that the sector would rally out of its current bearish state faster than it did in 2019.
Hot Take: Pal Sees Opportunity in XRP Lawsuit
Overall, Raoul Pal remains bullish on XRP, and has been betting on the token after the SEC’s lawsuit against Ripple. His optimistic outlook suggests potential for a massive upturn in the value of XRP, and he believes that there are real use cases for the cryptocurrency that could drive significant growth in the future.
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