XRP slides below $1.30 as market cap concerns mount

Dubai-based investor Royal Kane has publicly dismissed XRP as an investment opportunity, citing its multibillion-dollar market capitalization as a barrier to significant future gains. Kane argues that smaller assets offer more compelling narratives and greater upside potential, pointing to the growth stories surrounding tokens like Solana and Pepe. He maintains that at its current size, XRP requires an unrealistic influx of new capital to replicate the percentage performance of lower-valued competitors.

This cooling sentiment coincides with a broader retreat in the crypto markets following the Federal Reserve’s decision to raise interest rates by 25 basis points on September 16. With the target range now sitting at 3.75% to 4%, higher yields on government debt are drawing capital away from speculative digital assets. Adding to the regulatory uncertainty, the U.S. Senate recently blocked the CLARITY Act in a 50-49 vote, stalling a legislative attempt to clarify the oversight roles of the SEC and CFTC. While Ripple continues to expand its commercial footprint through services like Ripple Payments and the RLUSD stablecoin, the disconnect between the company's private operations and the public-facing token remains a central point of debate for market participants.