XRP: The Biggest Meme Coin? CNBC Crypto Trader Stirs Debate
3 min read
In a bold and controversial statement, Ran Neuner, a prominent CNBC Crypto Trader, has classified XRP as a meme coin—the biggest one to date, with a fully diluted valuation (FDV) of $327 billion. His comments, shared on X (formerly Twitter), have ignited discussions among crypto enthusiasts and traders, particularly in light of the rising prominence of other meme coins like TRUMP and Dogecoin.
XRP: A Utility Coin or a Meme Coin?
XRP is widely regarded as a utility cryptocurrency designed to facilitate cross-border payments efficiently. However, Neuner’s comments challenge this narrative, asserting that its market behavior mirrors that of speculative meme coins such as Dogecoin, which currently has a $57 billion market cap.
As the third-largest cryptocurrency by market cap, XRP boasts a valuation of $188 billion. When factoring in its total supply of 99.98 billion tokens, its FDV swells to $327 billion, placing it at the top of Neuner’s controversial list of meme coins. Alongside XRP, Neuner also categorized Cardano (ADA) and Hedera (HBAR) as meme coins, with FDVs of $47 billion and comparable metrics, respectively.
Growing Criticism of XRP and ADA
This isn’t the first time XRP and Cardano have faced scrutiny from high-profile commentators. Recently, macro investor Raoul Pal retracted his past criticism of XRP, even apologizing to the XRP community for labeling it as “dead.” On the other hand, Bitcoin maximalist Davinci Jeremie acknowledged XRP’s potential for a price rally, despite maintaining a skeptical stance toward long-term investment in the asset.
Similarly, Cardano’s inclusion on Neuner’s list sparked backlash from its community. Many pointed to the blockchain’s peer-reviewed research and scalability roadmap, which starkly contrasts with the playful and speculative nature of meme coins.
The Rise of Meme Coins and TRUMP’s Entry
Neuner’s assessment coincides with the recent rise of TRUMP, a new meme coin that has gained traction shortly after its launch. TRUMP now rivals Dogecoin as a market leader in the meme coin category, demonstrating the growing appeal of these speculative assets.
Meme coins have often been criticized for their lack of intrinsic value and reliance on hype-driven markets. However, they continue to capture significant attention, driven by community engagement and viral marketing campaigns.
Community Defends XRP and ADA
Following Neuner’s remarks, XRP and Cardano supporters have defended their projects. A community member known as Talos highlighted Cardano’s unique position as one of the few blockchains grounded in academic research and a clear scalability vision. Similarly, other community members emphasized that XRP and ADA are pivotal to future financial and governmental systems, underscoring their utility beyond price speculation.
Disclaimer
This article is for informational purposes only and does not constitute financial advice. Cryptocurrencies, including XRP and meme coins like Dogecoin, are highly volatile and speculative investments. Always conduct your own research and consult a financial advisor before making any investment decisions.
Final Thoughts
Ran Neuner’s remarks about XRP, ADA, and HBAR as meme coins have reignited debates about the fine line between speculative assets and utility-focused cryptocurrencies. While criticisms persist, the communities backing these projects remain steadfast, underscoring their belief in the long-term potential of their chosen assets. Whether labeled as a meme coin or not, XRP continues to be a central figure in crypto discussions.
About The Author
Calling XRP a meme coin is wild, considering its actual use case in payments. But hey, in crypto, hype often overshadows facts!