Ex-Goldman Sachs Exec Shares Positive Outlook on XRP Amid Legal Challenges

XRP is causing a stir in the cryptocurrency world as its price surge defies expectations, leaving former critics questioning their stance on the asset.

Among those reevaluating XRP’s future is Raoul Pal, a well-known trading strategist and ex-Goldman Sachs executive, who recently shared his positive outlook on the cryptocurrency.

In response to a follower’s inquiry, Pal stated that he believes XRP “will do well,” and revealed that he still holds a portion of the tokens he acquired in 2020, when XRP was facing legal challenges in the U.S.

The legal troubles surrounding XRP are tied to its relationship with Ripple, the San Francisco-based blockchain firm that uses the cryptocurrency for its cross-border payment solutions.

READ MORE:

Ethereum Whale Awakens: $224M Selloff Sparks Market Uncertainty

These issues began in 2020 when the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, accusing it of conducting an unregistered securities offering with XRP.

Since early November, XRP has surged by over 178%, catching the attention of many, including Raoul Pal. He disclosed that he has held onto some XRP since 2020, when the cryptocurrency faced significant legal hurdles.

Although XRP has struggled over the years, Pal, who describes himself as a profit-driven investor, emphasized that he’s always ready to move where he sees the greatest potential for returns.

Kosta Gushterov