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“I Would Never Invest in XRP”: Dubai Investor Explains Why
Dubai-based investor Royal Kane says he would not invest in $XRP at its current price because he believes its large market value leaves less room for growth than smaller cryptocurrencies.
Kane, who says he has been trading crypto since 2016, shared his opinion about $XRP on X. “I would never invest in Ripple at this stage because its market cap is already too large,” he wrote, referring to $XRP’s market value of about $81 billion.
He also claimed that $XRP has no products or revenue and said he prefers smaller cryptocurrencies “with stronger growth potential.”
$XRP Still Below Its 2025 Peak
$XRP is currently trading at around $1.30, giving it a market value of about $81.9 billion The price is still much lower than its 2025 high of about $3.66. That means $XRP is currently around 64.5% below that level
CoinMarketCap lists $XRP’s all-time high as $3.84, while other market observers put its 2025 peak at around $3.66. Meanwhile, $XRP has also fallen against <a href="https://xpertsstudio.com/bitcoin-mining-stocks-rally-outpacing-bitcoin/” title=”Bitcoin mining stocks rally, outpacing Bitcoin'…”>Bitcoin. Kane’s chart shows a decline of about 34% in the $XRP/BTC ratio over the past year.
$XRP Sees Strong Recovery in August
Despite its longer-term decline, $XRP gained attention in August after a strong price increase. $XRP rose from about $0.98 to $1.70, gaining roughly 72%. It first moved above $1 before climbing further toward $1.70.
However, the rally did not last. $XRP gave back much of those gains and ended August at around $1.38, though it still gained about 28% for the month.
$XRP remained volatile in September. On September 17, it was trading at around $1.30 and was still about 30% higher than it was 30 days earlier.
Veteran Trader Prefers Smaller Crypto Projects
Kane’s criticism of $XRP is mainly about its market value, not its recent price movements. He believes investors looking for bigger percentage gains should consider smaller cryptocurrencies instead of large, established ones. He prefers projects with smaller market values and strong narratives that could attract more buyers.
$XRP is already one of the five largest cryptocurrencies by market value, with around 62.9 billion tokens in circulation. Because of this, Kane remains cautious about $XRP even after its strong August rally. $XRP is now trying to hold around $1.30 after falling from its August high of $1.70.
Fall Below $1 Is Possible
Analyst Casi recently shared a cautious outlook for $XRP, noting that it has fallen below the 0.5 Fibonacci level and invalidated the previous $1.78 target.
Casi says $XRP needs to reclaim the 0.618 Fibonacci level near $1.65 to regain momentum. Until then, $1.10 is a key support level, with $0.87 potentially coming into focus if the decline deepens.
From the current price, a drop to $0.87 would represent another 33% decline. Combined with the price drop from its 2025 peak, that would amount to a massive 76% drawdown from $XRP’s peak.
Source: cryptonews.net