Ex-Goldman and Macro specialist Sachs executive Raoul Pal says he’s bullish on XRP and considering the case against Ripple. It will settle in favor of the San Francisco payments firm.
Pal describes his current perspective on the sixth-largest crypto asset by market cap. In a new Real Vision Finance video.
“I’m long a bit. I think it’s like a unique situation, and 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 assumed 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, asserting that the payments enterprise was selling XRP as an unregistered security. At the moment of writing, XRP is changing hands for $0.518, up over 6% in the past 24 hours.
Glancing at the decentralized finance (DeFi) space, Pal says he carries 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.”
Decentralizing exchange Uniswap (UNI) is the present value at 6.79%, while DeFi lending and borrowing protocol Aave (AAVE) deals at $75.76.
In addition, to XRP, UNI, and AAVE, Pal has earlier said that he holds the leading smart contract platform Ethereum (ETH), and a basket of some of the largest crypto assets by market capitalization.
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