Dubai Investor Bails on XRP Citing Market Cap Concerns

Royal Kane, a prominent Dubai crypto investor, has expressed his disinterest in investing in Ripple's XRP, citing its large market capitalization as a major concern.

Kane pointed out that XRP's market cap is around $81 billion, which he believes is too high for investment. He also noted that Ripple has no products or revenue, making it an unattractive option for him.

In contrast, Kane prefers to invest in smaller market-cap coins with compelling narratives, such as Solana and Zcash, which have robust growth stories.

The XRP price has been underperforming due to macroeconomic pressures from the Federal Reserve's recent rate hike and the failure of the CLARITY Act in the Senate. The coin's price dropped 7.3% after the setback, trading at $1.31 on Tuesday.