[DigitalToday reporter Yoonseo Lee] Dubai investor Royal Kain (로열 케인) said he would not invest in XRP at current price levels.

The Crypto Basic, a blockchain outlet, reported on Sept. 17 that Kain said XRP's market capitalisation had already grown, limiting further upside compared with smaller cryptocurrencies.

He focused on the asset's size rather than price action. With XRP's market capitalisation at about $81.9 billion, Kain judged that cryptocurrencies with smaller market values could be more favourable for investors seeking high returns.

Kain said of XRP, "There is no product and no revenue," adding, "I prefer small cryptocurrencies with growth potential." XRP has about 62.9 billion tokens in circulation and is among the top five cryptocurrencies by market capitalisation. Kain saw the scale itself as a factor constraining bigger gains.

XRP has shown sharp volatility over the past month. In August it rose about 72 percent, from about $0.98 to $1.70. It later gave up much of those gains and traded around $1.38 at the end of August. It was up about 28 percent for the month, but volatility continued in September and the price fell to about $1.28 as of the 17th. It is still about 30 percent higher than 30 days earlier.

In the longer-term view, the drop from its peak remains. XRP is trading 64.5 percent below about $3.66, cited as a 2025 peak. CoinMarketCap puts its all-time high at $3.84, but some community members see the 2025 peak at around $3.66.

Its performance against bitcoin was also weak. A chart cited by Kain showed the XRP/BTC ratio fell about 34 percent over the past year.

Views based on technical indicators are also conservative. Analyst Kashi said XRP fell below the 0.5 Fibonacci level, invalidating the previous $1.78 target. Kashi said XRP would need to regain the 0.618 Fibonacci level near $1.65 to recover upside momentum.

With that backdrop, the market is focusing on downside support. Kashi put $1.10 as a key support level and said $0.87 could emerge as the next zone if losses deepen. A fall from the current price to $0.87 would be an additional decline of about 33 percent. Compared with the 2025 peak, the drop would widen to about 76 percent.

Ultimately, the issue surrounding XRP is less whether it surges in the short term than how much more money can flow in given the asset's current size. Kain is placing more weight on return opportunities in smaller projects than in large cryptocurrencies, and the market is watching whether XRP can hold the $1.30 level or slips into a test of $1.10 after failing to reclaim $1.65.