As a seasoned researcher with over two decades of experience in the financial markets, I find myself intrigued by the ongoing debate surrounding XRP and Cardano’s ADA. Having closely followed the evolution of both projects since their inception, I can’t help but feel a sense of nostalgia mixed with curiosity.
On August 20th in a recent interview, well-known economist Raoul Pal expressed worries about the future of XRP and Cardano‘s ADA digital tokens. These two cryptocurrencies have been drawing attention due to their poor performance during the current global market turmoil and other legal hurdles they face.
At present, XRP is currently declining by 2.47% to $0.5952, giving it a market capitalization of approximately $33.3 billion. The price of XRP has repeatedly been turned away at $0.60 in the past, creating a significant resistance barrier for the cryptocurrency. In contrast, Cardano’s ADA token has dropped to tenth place behind Tron and is hovering around $0.3533, with a market cap of $12.6 billion. During this bearish market trend, ADA has been experiencing considerable selling pressure, making it challenging for bulls to push the price above $0.40.
During his latest interview, Raoul Pal stated that investors should avoid ADA and XRP adding that the two projects have been losing their innovative edge against new market competitors.
🚨 MUST WATCH: RAOUL PAL STATES AVOID OLD COINS LIKE $XRP & $ADA !!💥
“I Just Feel Like You’re Being Done A Disservice Because You’re In A Cult.”😳
Raoul Pal’s comments on steering clear from older coins such as XRP and ADA imply he believes these projects might no longer hold the potential they once did.
— Good Morning Crypto (@AbsGMCrypto) August 20, 2024
Analyst Max Prime, often referred to as such, has labeled XRP as one of the most significant scams within the cryptocurrency market. Prime’s observation is based on the fact that although there was a favorable court decision regarding XRP, its price increase has been minimal, causing doubt among many who are watching the situation closely.
Cardano CEO Slams Pal, All Eyes on Chang Hard Fork
After Raoul Pal’s remarks, Charles Hoskinson, the CEO of Cardano, playfully jabbed at Brad Garlinghouse, the CEO of Ripple.
So @bgarlinghouse, when are we going to the Secret Cult meetings? I never got the memo from Raoul
— Charles Hoskinson (@IOHK_Charles) August 21, 2024
Meanwhile, the Cardano community is anxiously anticipating the launch of the Chang hard fork, initially planned but then pushed back to August 27. Generating buzz about this event, Hoskinson posted: “Are you ready for Chang? The rocket is loaded on the launch pad. Governance is approaching”.
The decision about when we’ll launch the hard fork is expected by August 23rd. Last week, approximately 70% of Cardano’s stake pool operators chose Node Version 9.1.0, which marked a significant milestone in the process towards the Chang hard fork. This upcoming hard fork will shift Cardano to a self-governed model led by the community.
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2024-08-21 13:42