- Novogratz admits misjudging XRP’s resilience against SEC lawsuit and regulatory pressure.
- XRP community support and Ripple’s leadership credited for token’s sustained recovery.
- XRP price climbs 3.4% to $2.87 with strong market cap and active holder base.
Billionaire investor Mike Novogratz, founder of Galaxy Digital, admitted he was wrong about XRP. Speaking with podcaster Kyle Chasse, Novogratz acknowledged that he once believed the token would not survive the U.S. Securities and Exchange Commission’s lawsuit against Ripple.
Back then, he cited Ripple’s large control of the token and the weight of regulatory pressure as reasons for doubt. Today, he says XRP has proven stronger than he expected, not just because of legal maneuvering, but because of the community and leadership that stood firm when the odds looked stacked against it.
The XRP community, often referred to as the “XRP Army,” remained consistent in its support despite ongoing legal proceedings.
Novogratz credited Ripple CEO Brad Garlinghouse and attorney John Deaton for steering the project through turbulence, but he stressed that the story wasn’t only legal. It was about how loyalty and persistence from a base of believers kept XRP relevant when others wrote it off.
He even compared XRP’s support network to Bitcoin’s community, calling it one of the strongest in the digital asset space. In his view, XRP’s survival and rebound highlight a lesson that goes beyond price action: a crypto project with a resilient base can weather storms that would sink others.
Related: Billionaire Mike Novogratz Admits He Was Wrong About XRP, Praises XRP’s ‘Vibrant’ Community
XRP’s Current Market Standing
That resilience is showing in the numbers. Since November 2024, XRP has gained nearly 47.4%, placing it among the top performers in the sector.
Over the last 24 hours, XRP gained 3.4% to trade at $2.87, bringing its market capitalization to $171.98 billion. Trading volume reached $4.08 billion, a 0.09% increase from the prior day. The fully diluted valuation stood at $287.47 billion, based on a maximum supply of 100 billion tokens, nearly all of which are already in circulation.
Approximately 475,740 wallets currently hold XRP, showing ongoing participation. Intraday charts showed the token opened near $2.79, climbed above $2.90, and settled at $2.87 after minor corrections. The trading pattern showed resilience, with higher lows developing through the day.
Related: XRP Price Levels to Watch Today: $2.70 Support, $3 Resistance, Momentum Next
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Source: https://coinedition.com/novogratz-admits-he-was-wrong-xrp-community-vindicated/
