Renowned economist Raoul Pal said in a new image that he is bullish about XRP as he expects the SEC case to be resolved in favor of Ripple. According to many experts, if Ripple wins the case, this will be the beginning of the bull for the entire altcoin market. Raoul Pal says he is already waiting with a basket containing 4 altcoins.
Former Goldman Sachs executive shared his expectations from XRP
Macro expert Raoul Pal said he was optimistic about XRP following the latest developments. The famous economist thinks that the case will end in favor of Ripple. In a new Real Vision Finance image, Pal described his current sentiments on XRP:
I’m a little bullish on XRP. I think the case is positive and it is rising… Actually, XRP is a widely used protocol. It also gives positive results compared to Metcalfe Substance. The only thing is that Americans cannot invest because they are delisted from stock markets. But generally speaking, XRP does what it’s supposed to do. It currently works as a payment method. I don’t have a problem with that. On-chain activity is also very convenient. Metcalfe’s Law prices it appropriately for its location.
Metcalfe’s law says that a network grows in proportion to the number of users. According to Pal, XRP continues its development as a payment method with the increasing number of operators.
Altcoin market awaits outcome of Ripple and SEC lawsuit
In late 2020, the SEC sued Ripple, arguing that it was selling the XRP token as an unregistered security. Ripple scored a procedural victory as part of its legal defense against the SEC last week. Koindeks.com As you follow on Sept. 29, a US District Court judge sent emails and other correspondence from former SEC official William Hinman regarding a speech in which he said that Ethereum (ETH) is not a security because it is not a security like Bitcoin. decided to publish. The general consensus in the crypto community is that XRP will win the case.
XRP is currently trading at $0.5178. It rallied over 40% on Sept. 22 amid the latest developments from the litigation process. This momentum continues in October as well.
Raoul Pal invests in these 4 altcoin projects
Pal said that besides XRP, he also invested in 2 major DeFi projects:
I’m not a big fan of DeFi. But I’m looking at the chart. I have some Uniswap. I own some Aave. They are quite appropriate.
DeFi protocol Aave (AAVE) is currently trading at $75.26, while Uniswap is trading at $6.61. Pal previously stated that he is an Ethereum (ETH) investor, in addition to XRP, UNI, and AAVE.