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Prominent financial expert Raul Pal posted a tweet commenting on the recent sharp rise in the price of XRP, admitting to the XRP community that he was not completely right about the popular coin.
This happened after Ripple-related cryptocurrency XRP showed an incredible surge above the $2 level, regaining the long-lost third place on the CoinMarketCap scale.
“You were right, I was wrong”: Raul Pal
The cryptocurrency expert called out his X followers and XRP enthusiasts across the social media giant, calling them “XRP Jedi Warriors.” Although Pal admitted he was wrong, he was proven right about the potential for future price increases for the XRP coin. Well done! Dinosaurs still roam the earth. ”
He also acknowledged that the XRP community has “walked through hell to get to this point.” He also reminded the community that they still own XRP from the “delisting era” the coin faced in 2021. It comes after a number of major exchanges, including Coinbase, filed suit against the SEC over Ripple and XRP, claiming the latter is an unregistered security. , Binance US and Bitstamp began suspending XRP trading, but still allowed users to hold XRP in their wallets on these exchanges and withdraw and deposit XRP at will.
Earlier this year, Raul Pal was highly critical of XRP and ADA coins, saying they had become “cults” and suggesting that investors should avoid these older coins.
Now that XRP has finally soared past its first $1 and then $2 level, Pal admitted he was wrong before.
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Ripple mines 1 billion XRP as price crosses $2
Blockchain giant Ripple released a whopping 1 billion XRP coins from escrow on Sunday, December 1, according to data shared by Whale Alert, a popular crypto tracker that monitors large-scale crypto transactions.
At current prices, this represents a 63% increase since November 24, when it was already trading at more than $1, and as it crossed $2 on Sunday, this equates to more than $2 billion in fiat currency. Overall, from that day to date, XRP has witnessed a huge price war of 84.78% and is hovering at $2.41 at the time of writing.
