Popular Dubai crypto investor Royal Kane has publicly stated he would not invest in Ripple, pointing to the company's market valuation and business fundamentals as key concerns.
In a post on X, Kane said: "I would never invest in Ripple at this stage because its market cap is already too large." He highlighted XRP's approximately $81 billion market capitalization as a major issue, adding that Ripple has "no products or revenue whatsoever."
Kane's comments come as XRP has faced downward pressure. The token began 2025 trading around $3.04 before declining to below $1.70, and is currently trading near $1.30. XRP is down 29.18% year-to-date, with 24-hour trading volume at $4.12 billion.
Kane indicated he favors smaller-cap tokens with stronger narratives, comparing XRP's position unfavorably to projects like Solana, which he referenced for its market story, and other tokens with compelling adoption trajectories.
Regulatory and Macro Headwinds
XRP's recent weakness coincides with broader market pressures. The Federal Reserve raised interest rates by 25 basis points on September 16, setting the new target range at 3.75% to 4%. Fed officials' forecasts indicate 12 of 18 expect additional rate increases this year, a sentiment weighing on risk assets.
Additionally, the Senate failed to advance the CLARITY Act, a crypto market structure bill, on Tuesday. The measure received 49 votes in favor and 50 against, falling short of the 60 votes required for passage, with four Republicans voting against it alongside Democrats.
Following the legislative setback, XRP declined 7.3% to $1.31. This represents a 23% drop from a recent high of $1.68.
