Ran Neuner, a prominent CNBC Crypto Trader, has inspired debate by describing XRP as a meme coin, positioning it as the largest in the category based on fully diluted valuation (FDV).
Neuner’s comments were made in a post on X, he listed his perceived leading meme coins in the cryptocurrency market.
This statement comes amidst the growing popularity of TRUMP, a new meme coin gaining traction and competing with Dogecoin (DOGE) and Shiba Inu (SHIB), the longstanding leader in the meme coin space.
Here is a list of the biggest memecoins by FDV;
1. XRP – $320bn
2. DOGE – $57bn
3 ADA – $47bn
4.TRUMP – $36bn
5.HBAR -$17bn— Ran Neuner (@cryptomanran) January 19, 2025
Position in the Meme Coin Debate
In his list, Neuner placed XRP at the top, citing its FDV of $327 billion, derived from its total supply of 99.98 billion tokens. The token is currently the third-largest cryptocurrency by market capitalization, trailing Bitcoin and Ethereum, with a reported value of $188 billion.
Although the asset is widely recognized as a utility-driven digital asset, Neuner’s comparison suggests it operates similarly to meme coins like Dogecoin, which has a market cap of $57 billion. Neuner also categorized other well-known cryptocurrencies, such as Cardano (ADA) and Hedera (HBAR), as meme coins, referencing ADA’s $47 billion FDV.
Both assets have often been the targets of skepticism from prominent industry figures, a trend that has intensified with recent price surges. For instance, macro investor Raoul Pal previously criticized XRP and ADA during a past market cycle, declaring them ineffective performers. However, Pal later reversed his stance, apologizing to the token supporters for his earlier comments.
Similarly, Bitcoin advocate Davinci Jeremie initially predicted that XRP would become worthless but has recently acknowledged the potential for the token to climb to $24 in the current market cycle. Despite this revised projection, Jeremie advises against holding the asset for extended periods.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
As earlier reported by Times Tabloid, critics, such as Rajat Soni, have maintained bearish perspectives; he recently ridiculed predictions of the asset reaching $100. Such critical outlooks often correlate with the token’s price performance relative to Bitcoin, prompting defensive reactions from its community.
Community Pushback On XRP Meme Coin Label
Neuner’s characterization of XRP, Cardano (ADA), and HBAR, as meme coins has elicited strong responses from their respective communities. Talos, an active Cardano supporter, expressed disbelief at the inclusion of ADA in the meme coin category.
He highlighted Cardano’s foundation in peer-reviewed research and its well-defined roadmap for scalability as evidence of its value beyond speculation.
Another community member, Matt Scheff, defended XRP, ADA, and HBAR, asserting their potential to become integral to global financial, governmental, and economic systems. Scheff also emphasized Cardano’s efforts to integrate Bitcoin into decentralized finance (DeFi) as a testament to its innovation.
Persistent Criticism and Community Resilience
Despite the ongoing scrutiny, the community remains confident in its support. Advocates argue that its outperformance relative to Bitcoin has attracted heightened criticism from maximalists. While critical perspectives are unlikely to wane, community resilience demonstrates confidence in the asset’s long-term potential.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
Follow us on Twitter, Facebook, Telegram, and Google News