XRP Price News: Mike Novogratz Makes Bullish Case for Cardano and XRP

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Why Mike Novogratz Thinks XRP and Cardano Are the Cool Kids on the Crypto Block! 🚀

So, here we are, folks! Galaxy Digital’s very own Mike Novogratz has decided to grace us with his thoughts on the ever-so-exciting world of cryptocurrencies, specifically the Ripple-associated XRP and the ever-mysterious Cardano. It’s like watching a soap opera, but with more numbers and fewer dramatic pauses. 🎭

During a riveting episode of the Galaxy Brain podcast, where he shared the mic with Pantera Capital’s Dan Morehead, Novogratz made a bold proclamation. He believes that both XRP and ADA are still riding high on the popularity wave because they got in early. It’s like being the first kid on the block to own a shiny new bicycle while everyone else is still figuring out how to ride a tricycle. 🚲

Now, let’s break down some numbers, shall we? Here’s what the crypto world looks like today:

  • BTC: $98,345
  • 24h volatility: 2.1%
  • Market cap: $1.95 T
  • Vol. 24h: $26.67 B

And for our stars of the show:

  • ADA: $0.81
  • 24h volatility: 6.4%
  • Market cap: $28.94 B
  • Vol. 24h: $684.34 M
  • XRP: $2.69
  • 24h volatility: 0.6%
  • Market cap: $155.37 B
  • Vol. 24h: $4.06 B

Novogratz, in his infinite wisdom, pointed out that launching new digital assets today is akin to trying to find a needle in a haystack—if the haystack were made of 11.6 million tokens. Yes, you heard that right! That’s a lot of choices, and not all of them are good. It’s like a buffet where everything looks delicious, but you end up with a plate full of mystery meat. 🍖

He even joked that if he were to launch his own token, “Novocoin,” it would probably sink faster than a lead balloon. Even celebrities with their millions of followers would struggle to keep their tokens afloat without some serious utility. Who knew being famous didn’t guarantee success in the crypto world? 😅

But let’s get serious for a moment. Novogratz believes that for cryptocurrencies to thrive, they need to have real-world applications. Hype alone won’t cut it; they need to provide actual value. And guess what? Both Cardano and XRP have some pretty nifty use cases.

Take Cardano, for instance. It was designed to handle mass transactions like a pro. In fact, it’s been used to help Ethiopian students get digital IDs using their fingerprints. Talk about making a difference! 🌍

And then there’s XRP, which plays a crucial role in Ripple’s payment solutions, RippleNET. Before the ongoing US SEC lawsuit turned things upside down, it was a key player in On Demand Liquidity (ODL). It’s like the Swiss Army knife of cross-border transactions—versatile and essential!

Now, Novogratz hasn’t always been a cheerleader for XRP and Cardano. In fact, he’s had his fair share of criticisms. But now, he’s singing a different tune, claiming that XRP’s strong community is what keeps it relevant. It’s like watching a redemption arc in a movie—who doesn’t love a good comeback story? 🎬

XRP and ADA Market Success

In a plot twist that would make any screenwriter proud, XRP has now become the third most valuable cryptocurrency, surpassing Tether’s USDT, with a market value of $155 billion. This meteoric rise is fueled by hopes for favorable crypto regulations and the potential approval of an ETF tied to the coin. It’s like waiting for the next big blockbuster to hit the theaters!

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2025-02-21 00:24