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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).
CNBC trader calling XRP a meme coin
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.
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