XRP Criticized by Poker Legend Over Market Ranking

XRP, the digital asset closely aligned with Ripple, has once again stirred controversy as high-profile industry voices question its current market status. Recently, Antanas Guoga, more widely recognized by his poker alias “Tony G,” sparked debate across social media by challenging XRP’s lofty position in the crypto rankings.

Guoga, a Lithuanian-Australian entrepreneur and former European Parliament member, took to X to express his confusion over XRP’s ranking. “How is XRP still ranked 4th? Baffles me!” he posted, signaling doubts over the token’s perceived value. His sentiment reflects broader skepticism within sectors of the crypto community regarding tokens that hold high valuations despite limited visible user base or utility.

This isn’t the first time Guoga has voiced concern about XRP’s strategic inclusion in institutional frameworks. Back in March, he publicly criticized proposals suggesting XRP be considered for the U.S. strategic reserve, citing a lack of widespread use as a core weakness. Despite being an outspoken supporter of cryptocurrency, Guoga, who also heads the Solana-focused company SOL Strategies, appears critical of XRP’s trajectory compared to other utility-driven assets.

XRP’s journey through the crypto market has been a turbulent one. At its peak, the token even managed to temporarily unseat Ethereum as the second-largest cryptocurrency back in 2018. However, its fortunes dramatically shifted amid legal battles with the U.S. Securities and Exchange Commission (SEC) in 2021 that nearly pushed the asset out of the top ten rankings. Since then, XRP has reclaimed its ground, now securing the fourth spot based on its market capitalization of $126 billion, according to CoinMarketCap data.

In terms of market performance, XRP has only appreciated by a modest 3.57% since the start of this year. This muted growth has persisted despite impactful developments, including the approval of North America’s first XRP-focused exchange-traded funds (ETFs) and a finalized settlement with the SEC, which were expected to be major catalysts.

Interestingly, when examining its overall yearly performance, the picture shifts dramatically. XRP has seen an astounding 345% increase over the last twelve months. This resurgence, largely fueled by its fourth-quarter rally in 2024, helped cement its place in the elite tier of cryptocurrencies. While such a spike might suggest robust investor confidence, critics like Guoga remain unfazed, attributing the rise to market sentiment rather than fundamental value.

Guoga’s skepticism taps into a larger narrative about the criteria that determine a digital asset’s merit. While some tokens derive value from active utility within blockchain ecosystems or widespread adoption, others—like XRP, critics argue—appear to ride waves of speculative demand or regulatory outcomes. The divide highlights ongoing tension between market capitalization as a metric and actual use-case traction.

Nevertheless, Ripple and its community continue to forge ahead. The XRP Ledger is still regarded for its speed and efficiency in cross-border payments, and Ripple’s partnerships with financial institutions around the world keep expanding. However, these fundamentals are weighed differently across observers, particularly in a maturing and increasingly scrutinized crypto environment.

Related: Expert Advice: Sell XRP If You’re Confused

At a time when industry growth is keenly watched both by investors and regulators, voices like Tony G’s serve as a reminder that popularity doesn’t always convey legitimacy. As XRP holds its controversial spot near the top of the market charts, the debate over its valuation versus utility is unlikely to fade.