XRP Alert: Raoul Pal Advises Investors To Sell Now – Here’s Why
August 21 2024 - 9:00AM
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A new video by macro guru Raoul Pal is currently causing quite a
stir in the XRP community. In the recently published video update,
Pal, the co-founder and CEO of Real Vision, says that investors
should avoid older coins like XRP and ADA. His analysis presents a
sobering outlook for these longstanding members of the crypto
ecosystem, arguing that they may no longer be at the forefront of
blockchain innovation. Sell XRP Now? During his discourse, Pal
critiqued the capacity for innovation and adaptation in projects
like XRP and ADA, which have been market fixtures but, in his view,
now lack the dynamism seen in newer blockchain ventures. He posited
that these older coins are being overshadowed by newer, more agile
entrants that promise greater technological advancements and
potential returns. “XRP, we’ve gone through this before […] you
might be right, you might love it, forever just please move to
whatever the strong momentum is,” Pal urged. This statement
encapsulates his broader message: that nostalgia or loyalty to a
particular crypto asset could hinder investors from capitalizing on
emerging opportunities. A central theme of Pal’s commentary was the
cult-like communities that have formed around certain
cryptocurrencies. He argues that these communities often foster an
emotional attachment that can cloud judgment and investment
decisions. Related Reading: Monday’s Crypto Leaderboard: BNB And
XRP Surge Past Market Leaders “I know there’s that fear in your
head that this time it’ll be the big one, you’ll get plenty of
notification, you get back in but don’t miss the bull market
because you’re in a narrative of the past. I beg you don’t do this
and the communities are huge and I feel like and I don’t want to
get attacked by people online for this but I just feel like you’re
being done a disservice by being a cult,” Pal stated. By using the
term “mercenaries,” Pal emphasized the importance of being
profit-driven rather than emotionally driven in investment
decisions. He suggested that investors should be ready to deploy
their capital wherever the best risk-adjusted returns can be found,
rather than sticking with investments out of loyalty or hope. “I
feel like you’re being done a disservice by being a cult. Our job
is to be mercenaries. We’re in the job to make money not to be a
cult. Cults don’t make money except for the leaders. Be a
mercenary, lend out your capital to the opportunities that will
offer you the best risk adjusted return,” he explained. Related
Reading: XRP Price Chart Signals Major Breakout: Top 5 Reasons To
Watch Pal elaborated on the pitfalls of hopeful investment
strategies devoid of pragmatic considerations. “Cardano, XRP,
there’s a whole bunch of these. I really hope you’re right but hope
is not an investment strategy. Okay, so I’m not trying to insult
you. I’m not trying to be rude. Please just understand my heart is
coming from a good place. I’m trying to help you all.” XRP
Community Reactions The reactions to Pal’s comments were mixed,
with significant pushback coming from prominent members within the
XRP community. Fred Rispoli, a pro-XRP lawyer, responded with
measured disagreement: “I thoroughly enjoy Raoul Pal and, until
shown otherwise, consider him authentic and well-meaning. I
respectfully disagree with him on XRP but that thesis is reasonable
and has not been proven wrong…yet. I do agree there exist ‘old’
coins (cough, EOS) whose days are long past.” Bill Morgan, another
pro-XRP lawyer, critiqued Pal’s arguments for lacking depth and
specificity: “His comments may have more value if he gave even one
cogent reason why people should not hold XRP other than indirectly
referring to its age. If that is his only criteria then he might as
well add Bitcoin and Ethereum to Cardano and XRP as they also are
old.” Yassin Mobarak of Dizer Capital highlighted the high-risk,
high-reward nature of XRP: “XRP is the kind of crypto you don’t
want to be caught not being in it when it skyrockets. Until then
it’s painful, boring and utterly demoralizing to hold.” At press
time, XRP traded at $0.5982. Featured image from YouTube, chart
from TradingView.com
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