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Ran Neuner, a widely followed CNBC Crypto Trader, has boldly labeled $XRP a meme coin— and not just any meme coin, but one with the largest market cap.
Neuner shared this view in a post on X today, identifying what he believes are the top meme coins in the market. This comes amid the rise of a new contender, TRUMP, which gained prominence shortly after launch and is now rivaling meme coin market leader Dogecoin.
In his tweet, Neuner ranked $XRP at the top of his list of the biggest meme coins by fully diluted valuation (FDV).
$XRP is the third-largest cryptocurrency, behind Bitcoin and Ethereum, with a market cap of $188 billion. However, when considering $XRP’s total supply of 99.98 billion, its FDV stands at $327 billion.
While $XRP is widely recognized as a utility crypto asset, Neuner now claims it functions similarly to meme coins like Dogecoin, which has a market cap of $57 billion.
Furthermore, Neuner also placed Cardano ($ADA) in this category, citing its $47 billion FDV. Another notable utility coin that made it onto Neuner’s supposed list of biggest meme coins is Hedera ($HBAR).
Recent Spike in Critical Assessments of $XRP
$XRP and Cardano have not been the subject of critical categorization from prominent market commentators for the first time. This has been a recurring trend and has gained momentum in recent weeks, particularly as these coins have seen surging values.
For example, in August, macro investor Raoul Pal publicly stated that $XRP and Cardano were “dead” due to their underperformance during the bull run at the time. However, Pal has since revised his perspective on $XRP, even apologizing to the $XRP Army.
Likewise, Bitcoin maximalist Davinci Jeremie, who previously argued that $XRP was heading to zero, recently stated the coin could rally to a $24 peak this cycle.
However, unlike Pal, Jeremie remains skeptical about $XRP. He emphasized that he does not recommend holding $XRP long-term.
Meanwhile, others like Rajat Soni have maintained bearish views on $XRP. Soni recently attributed mental illness to those projecting $XRP could reach $100.
Despite the ongoing critical views around $XRP, the community remains steadfast. Members argue that since $XRP is outperforming Bitcoin, it is typical for criticism to spike from maximalists.
Community Reacting to Claims of $XRP and $ADA Being Meme Coins
In response to Neuner’s assessment, community member Talos expressed surprise that Neuner would categorize $ADA as a meme coin. He cited that Cardano is one of the few blockchains backed by peer-reviewed research and a clear scalability roadmap.
Accordingly, Talos suggested differentiating between price speculation and fundamental value.
Community member Matt Scheff also countered Neuner. He expressed that $XRP, $ADA, and $HBAR are poised to become critical components of financial, governmental, and economic systems. He added that $ADA is on the verge of enabling Bitcoin to participate in DeFi.