CNBC’s Ran Neuner has asserted that he would never consider investing in the XRP token. In his statements, he revealed that he would never be convinced by adoption to invest in the token, despite the rising adoption by institutions.
Ran Neuner Reinforces Stand Against XRP
Ran Neuner, the host of CNBC’s Crypto Trader, has again ruled out the possibility of reconsidering his stance. This was in response to questions about recent developments linking the XRP and Solana ecosystems.
Neuner has been criticizing the altcoin for several years. This has ruined his ties with the community of the altcoin. The latest statements make it a point that even significant advancements would not change his view
The discussion came after a notable product launch by Hex Trust. The company launched wrapped XRP (wXRP) on December 12th. This is a 1:1 asset that is meant to work on a variety of blockchains such as the Solana, Ethereum, Optimism, and HyperEVM blockchains.
This is based on LayerZero’s Omnichain Fungible Token standard. The design makes it easier to create, redeem, and manage the asset in a way that follows regulations. This development will allow more access to this asset in lending markets, liquidity pools, and yield opportunities. These are areas where this asset hasn’t been very active before.
Neuner’s doubts trace back to 2018, following the drop from when it peaked at a price close to $3.30. He however commended its lawsuit agreement. The most fundamental stance, though, is still that it is centralized and overvalued.
It is worth noting that the cross-chain push has changed perspectives within the Solana community. Vibhu Norby, the head of product marketing at the Solana Foundation, admitted that his perspective has changed after learning from the design of the asset.
Wall Street Adoption Grows For the Altcoin
Institutional support has continued to increase for the altcoin. Five XRP ETFs have been launched. The U.S. spot ETFs have close to a billion in funds under management in a short month. Interestingly, these exchange-traded funds have been experiencing a continuous flow of funds with no single instance of a net outflow.
The CME Group has also introduced spot-price quotation futures for this token as well as the Solana token. This is attributed to a significant rise in demand from institutional clients in the U.S. ETFs as well as funds worldwide.
To add to the story, Bayberry Capital recently said that the altcoin is still priced too low. They believe investors are not valuing the asset correctly because they do not see how important the altcoin is becoming for real-world transactions.
Source: https://coingape.com/this-top-cnbc-trader-says-hell-never-invest-in-xrp-despite-wall-street-adoption/
