Dubai Investor: No Plans to Buy XRP at Current Price as Market Cap Limits Growth

Dubai-based investor Royal Cain has declared he will not invest in XRP at current price levels, stating that the cryptocurrency's already substantial market capitalization restricts further upside compared to smaller coins.

According to blockchain media The Crypto Basic on August 17 (local time), Cain believes XRP's market cap of approximately $81.9 billion means it offers less potential for high returns than smaller cryptocurrencies, which he prefers due to their growth prospects.

Cain stated that XRP has 'no product and no revenue,' emphasizing his preference for smaller cryptocurrencies with stronger growth potential. Despite being among the top five largest cryptocurrencies by market cap with a circulating supply of about 62.9 billion tokens, Cain views its size as a constraint on further price appreciation.

XRP recently experienced significant volatility, rising from around $0.98 to $1.70 in August—a gain of approximately 72%—before giving back much of that increase. By late August, it traded around $1.38, up about 28% for the month. However, as of August 17, the price had fallen to approximately $1.28, though it remains roughly 30% higher than 30 days prior.

Long-term, XRP is trading at a 64.5% discount from its 2025 high point of around $3.66, while CoinMarketCap records an all-time high (ATH) of $3.84. The cryptocurrency has also underperformed against Bitcoin over the past year, with XRP/BTC ratio declining by about 34%.

Technical indicators suggest caution: analyst Cassie noted that XRP falling below the 0.5 Fibonacci level invalidated its previous target of $1.78, suggesting it must reclaim the 0.618 Fibonacci level around $1.65 to regain upward momentum. Key support levels are at $1.10 for immediate stability and $0.87 as a potential next floor if declines continue.

Currently, market focus centers on whether XRP can hold above $1.30 or will fall toward the $1.10 support level after failing to recover to $1.65, with Cain emphasizing smaller projects' better return opportunities over large-cap assets like XRP.