CNBC Trader Ran Neuner Rules out XRP as Wall Street Demand Rises.

Neuner Restates Position

Neuner reiterated his stand in an interview on recent connections between XRP and Solana ecosystem. He indicated that new products do not change his evaluation of the asset. He, therefore, verified that he does not include XRP in his strategy since the market cycle which began with a peak of about three dollars in early 2018. He recognized improvements since the settlement of the lawsuit. Nevertheless, he asserted that control and pricing are still major issues.

The remarks were after Hex Trust had launched wrapped XRP on December twelve. It is an XRP in a one to one ratio in multiple networks. These are Solana, Ethereum, Optimism, and HyperEVM.The wrapped asset is based on the omnichain token standard of LayerZero. Therefore, it enables controlled redeeming and coinage among chains. It also provides access to lending, pools of liquidity and yielding tools.

There are opinions regarding the Solana ecosystem that have changed after the launch. Designer Vibhu Norby of the Solana Foundation claimed the design altered his perception. Besides, he noted that it is compliance and usability-oriented.The activity of institutions around XRP has also been increasing. It has five exchange traded funds in operation. The U.S. spot products have accumulated an amount of approximately one billion dollars in just a number of weeks.

Derivatives and Market Use

Spot price futures on XRP and Solana have been added to CME Group. This is an indication of increased demand by fund managers and ETF issuers. Notably, XRP product flows have remained positive.Analysts and traders still debate on XRP product valuation across markets. Other desks claim to be more used by payment firms and partners. This has led to them saying that this market has not priced this fully. Exchange liquidity data also depicts constant turnover in the recent sessions. Volumes remained flat even as market swings were broader.

Some market commentators indicate that XRP is under-valued in the market. They suggest that investors do not appreciate its value in cross border remittance. Other than that, they cite increased real world transaction use. The payment corridors are growing in the regions. There is a steady trend of growth in adoption metrics. Usage keeps rising globally.

This article was originally published as CNBC Trader Ran Neuner Rules out XRP as Wall Street Demand Rises. on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.