Lithuanian-Australian businessman and legendary poker player Antanas Guoga (also known as “Tony G”) recently took to the X social media to question the valuation of the Ripple-linked XRP cryptocurrency.
“How is XRP still ranked 4th? Baffles me!” Guoga said, implying that the token is overvalued.
In March, the former member of the European Parliament also criticized the idea of making XRP part of the US strategic reserve in March, arguing that the token had no users.
It is worth noting that Guoga, chairman of Solana infrastructure company SOL Strategies, is a longtime cryptocurrency supporter.
The Lithuanian native rose to prominence as a poker legend in the 2000s, with his tournament winnings surpassing a whopping $7 million.
XRP’s topsy-turvy rankings
According to CoinMarketCap data, XRP is currently valued as the fourth-biggest cryptocurrency with a market cap of $126 billion.
The Ripple-linked cryptocurrency is up only by a minuscule 3.57% on a year-to-date basis despite some bullish catalysts such as the launch of the first XRP ETFs in North America and the settlement agreement with the U.S. Securities and Exchange Commission (SEC).
However, the token is up by a stunning 345% over the past year. The massive rally that XRP experienced in the fourth quarter of 2024 allowed it to solidify its position within the CoinMarketCap top 5.
XRP’s CoinMarketCap rankings have fluctuated dramatically. In 2018, it surpassed Ethereum (ETH), briefly becoming the second-biggest cryptocurrency. However, it was then on the verge of dropping out of the top 10 amid the SEC-related turmoil in early 2021.
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