Royal Kane, a Singapore-based investor who has traded cryptocurrencies since 2016, recently stated he would not invest in XRP at its current stage, citing the token's substantial market valuation as his primary concern.
In a Sept. 17 post on X, Kane argued that XRP's roughly $81 billion market capitalization is already too large. He emphasized that the token has no products or revenue, and suggested that investors seeking significant percentage gains may find better opportunities in smaller-cap cryptocurrencies.
Kane's investment approach focuses on lower-capitalization projects with what he describes as "truly strong narratives" that could attract fresh demand. His criticism centers on valuation rather than recent price movements.
XRP is currently the fifth-largest cryptocurrency by market capitalization, with approximately 62.8 billion tokens in circulation. The token recently experienced a 12% pullback following the failure of the U.S. CLARITY Act to advance, dropping from around $1.45 to a low near $1.27 before recovering modestly.
As of Thursday, XRP was trading at approximately $1.31, up 0.7% over the past 24 hours. The token remains 64% below its all-time high of $3.65, recorded in July 2025, and is also below its August peak of $1.70.
