Raoul Pal, a macro guru and former Goldman Sachs executive, has recently reiterated his bullish stance on the embattled digital token XRP
According to Pal in a recent Ask Me Anything (AMA) session, XRP, the native token of the XRP Ledger (XRPL), is a viable currency for cross-border payments.
Pal further stated that XRP has a big chance to see massive price appreciation once the ongoing lawsuit filed by the United States Securities and Exchange Commission (SEC) ends in favor of Ripple, the San Francisco-based cross-border payment firm.
The macro guru also asserted that the risk of XRP crashing in terms of price is considerably lower peradventure the case fails to end in favor of Ripple.
Raoul Pal noted:
“I’ve said this a gazillion times, XRP has a real use case. It is being used as a protocol… I think there’s a gap risk higher if they get the ruling. There’s no gap risk lower as much. There should be some speculation.
“But it’s being used and a chain that’s being used for money transmission is a chain that has Metcalfe’s Law. So I have no issue with it. I own a small part.”
Recall that the longstanding lawsuit was filed against Ripple in December 2020 by the SEC for allegedly selling XRP as an unregistered security for a period of seven years.
According to Pal, many investors lost interest in XRP after the SEC filed the lawsuit against Ripple.
“Retailer held back because of this stupid SEC regulation and ruling that we’re waiting for.”