Macro expert and former Goldman Sachs executive Raoul Pal says he’s bullish on 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 sixth-largest crypto asset by market cap.
“I’m long a bit. I think it’s like a special situation, and I think the court case gets resolved positively, and it goes up…
It’s actually a very used protocol. By using Metcalfe’s Law, it’s pretty decent. The only thing – Americans can’t invest in it because it got taken off the exchanges.
But generally speaking, it does what it’s supposed to be doing. It’s working as a payment transmission. I have no issue with it. There’s plenty of activity on-chain, and Metcalfe’s Law prices it appropriately to where it is.”
The SEC first sued Ripple in late 2020, claiming that the payments firm was selling XRP as an unregistered security. At time of writing, XRP is changing hands for $0.518, up over 6% in the past 24 hours.
Looking at the decentralized finance (DeFi) space, Pal says he holds two big names in the crypto subsector.
“I’m not a big DeFi person. I’m not a big yield person. But I look at the chart. I own a bit of Uniswap. I own a bit of Aave. They’re pretty good.”
Decentralized exchange Uniswap (UNI) is currently valued at 6.79% while DeFi lending and borrowing protocol Aave (AAVE) is trading at $75.76.
In addition to XRP, UNI and AAVE, Pal has previously said that he holds leading smart contract platform Ethereum (ETH) and a basket of some of the largest crypto assets by market capitalization.
I
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/IfH
Credit: Source link
