Key facts
- Dubai crypto investor Royal Kane stated he would never invest in XRP due to its market cap and perceived lack of products or revenue.
- XRP's price has fallen below the $1.30 threshold.
- XRP's market capitalization is approximately $81 billion.
- XRP is down 29.18% year-to-date.
- The US Senate failed to advance the crypto market structure bill, the CLARITY Act, with 49 votes in favor and 50 against.
- XRP's price dropped 7.3% to $1.31 on Tuesday after the CLARITY Act setback.
Dubai-based crypto investor Royal Kane has publicly stated he would "never" invest in Ripple's XRP, citing its substantial market capitalization of approximately $81 billion and a perceived lack of products or revenue. His comments were made on X (formerly Twitter) on September 17, 2026, alongside a chart illustrating XRP's price decline over the past year. Kane suggested that investors should instead seek out cryptocurrencies with smaller market caps that have more compelling narratives for future growth, drawing parallels to the success stories of Solana and Pepe.
This sentiment from Kane comes at a time when XRP has been experiencing a prolonged downtrend, with its price recently falling below the $1.30 mark. The cryptocurrency is down 29.18% year-to-date, with a 24-hour trading volume of $4.12 billion. The broader market sentiment has also been impacted by macroeconomic factors and regulatory developments.
On September 16, the Federal Reserve increased its benchmark interest rate by 25 basis points, bringing the target range to 3.75% to 4%. Projections from Fed officials indicate a likelihood of further rate hikes this year, contributing to a cautious mood among traders of risk assets. Additionally, the failure of the CLARITY Act, a crypto market structure bill, to advance in the US Senate on Tuesday, despite needing 60 votes for passage and receiving only 49 in favor, has further pressured the market. XRP's price saw a 7.3% decline to $1.31 on Tuesday following this legislative setback, adding to a 23% drop from its recent peak.