Macro expert and former Goldman Sachs executive Raoul Pal says he is optimistic about XRP and believes the case against Ripple will be resolved in favor of the San Francisco payments company.
In a new Real Vision Finance video, Pal explains his current stance on the seventh largest crypto assets by market cap.
‘I’m a little tall. I think it’s a special situation, and I think the lawsuit is resolved positively, and it’s going up…
It is actually a widely used protocol. Using Metcalfe’s law, it’s pretty decent. The only thing: Americans can’t invest in it because it’s been delisted.
But overall it does what it’s supposed to do. It works like a payment transmission. I have no problem with it. There is a lot of activity in the chain and Metcalfe’s law properly rates it to where it is. ”
The SEC first sued Ripple in late 2020, alleging that the payment company was selling XRP as an unregistered security. At the time of writing, XRP is changing hands for $0.518, up more than 6% in the last 24 hours.
Looking at the decentralized financial space (DeFi), Pal says he has two big names in the crypto subsector.
“I’m not a big DeFi person. I am not a big yield person. But I look at the graph. I have a little Uniswap. I own a little bit of Aave. They’re pretty good.”
The decentralized exchange Uniswap (UNI) is currently valued at 6.79%, while the DeFi lending and borrowing protocol Aave (AAVE) is trading at $75.76.
In addition to XRP, UNI and AAVE, Pal has previously said he owns the leading smart contract platform Ethereum (ETH) and a basket of some of the largest crypto assets by market cap.
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