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XRP, one of the most closely followed cryptocurrencies in the world, has experienced a remarkable price recovery—rising more than 860% since 2022. Back then, CNBC’s Jim Cramer labeled the token a “giant con,” with XRP trading around $0.38. Fast forward to July 2025, and the asset has not only defied that criticism but posted record-breaking gains, peaking at $3.66 last week.
This stunning turnaround is drawing renewed attention from investors and commentators across the crypto space, particularly as several other high-profile critics of XRP have also reversed or softened their stances.
Cramer’s Comment: The Turning Point
The surge traces back to a resurfaced 2022 clip where Jim Cramer, host of CNBC’s “Mad Money,” expressed his doubt about XRP, calling it a “giant con.” While Cramer is a widely known figure in financial media, he has become somewhat of a meme in the crypto world, with traders jokingly treating his bearish calls as bullish indicators.
Not long after his XRP comment, the token began a multi-year rally. What started as a modest uptick evolved into a long-term surge, supported by a combination of legal victories, increasing adoption of Ripple’s cross-border payment system, and broader institutional interest in the XRP Ledger.
From $0.38 to $3.66: A Tenfold Increase
At the time of Cramer’s dismissal, XRP was worth about $0.38. As of late July 2025, the token trades at $3.20 and recently hit a high of $3.66, marking gains of 742% and 863%, respectively.
The dramatic increase has once again sparked conversation about how mainstream criticism can backfire, especially when sentiment fails to account for underlying fundamentals and evolving market trends.
Forbes Criticism Aged Poorly
Cramer isn’t the only figure whose comments have aged poorly. In March 2024, Forbes ran a feature labeling XRP as a “zombie token.” The article grouped XRP with nearly 20 other digital assets deemed to be billion-dollar “functional zombies,” arguing that they had large valuations but little meaningful adoption.
Forbes questioned Ripple’s ability to replace traditional systems like SWIFT and downplayed the token’s relevance. At the time, XRP was trading at just $0.60 with a market cap of around $36 billion.
Today, that market cap has ballooned by over $180 billion, as XRP now trades above $3.50 and remains one of the most actively traded digital assets globally. The “zombie” label has since become a point of ridicule among XRP’s loyal fanbase, who cite the project’s technological advancements and growing partnerships.
Raoul Pal Reverses Course on XRP
Another notable critic, Raoul Pal, the founder of Real Vision, also walked back his remarks. In August 2024, Pal warned investors against becoming too emotionally tied to XRP, suggesting the token represented an “old narrative” and that newer opportunities in the crypto space were more promising.
At that point, XRP was trading near $0.50. However, shortly after his comments, the asset surged over 550%, climbing to over $3.50.
Pal later admitted he misjudged the situation. In a post on social media, he commended XRP holders for staying the course and acknowledged the project’s long-term viability. He emphasized that his original warning was meant to prevent people from missing gains by clinging to underperforming assets, but he now sees XRP as a clear example of investor conviction paying off.
His mea culpa was met with support across the XRP community. Panos Mekras, co-founder of Anodos Finance, even invited Pal to explore the technical strengths and future roadmap of the XRP Ledger, signaling a shift in perception among once-skeptical financial experts.
Community Conviction and Legal Wins Fuel Rally
Much of XRP’s resurgence is linked to positive developments in Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC). Court rulings in Ripple’s favor have helped restore investor confidence, while the expansion of RippleNet and increasing real-world use cases for XRP have contributed to sustained momentum.
Institutional partnerships and integrations in the payment sector have also played a role, especially as central banks and corporations look for blockchain-based alternatives to traditional remittance systems.
Is XRP Finally Earning Its Place Among Top Assets?
The recent performance of XRP has prompted many to reassess its role in the broader crypto ecosystem. Once dismissed as a relic of the 2017 bull cycle, the token has demonstrated a surprising ability to adapt and scale, even amid regulatory pressure and market volatility.
With growing adoption, improved clarity around its legal standing, and renewed public interest, XRP appears to be entering a new phase of growth—one that few mainstream critics anticipated.
Final Thoughts
The dramatic rise of XRP since Jim Cramer’s controversial remark serves as a reminder of how quickly narratives can change in the crypto world. While skepticism is natural in a volatile market, dismissing projects outright without recognizing their evolving fundamentals can lead to major blind spots.
For XRP holders who held through doubt and mockery, the last few years have proven rewarding. And for critics like Cramer, Forbes, and Raoul Pal, the asset’s resurgence stands as a case study in why it’s important to look beyond surface-level opinions—especially in crypto, where innovation often outpaces perception.
