By Bhushan Akolkar
Edited by Julia Sakovich
Updated
2 min read
Raoul Pal said that Cardano and Ripple have no innovative edge and losing ground to other emerging projects. Investors are eagerly awaiting for the Cardano Chang hardfork which will bring a community-driven governance model.
In the latest interview on Tuesday, August 20, popular economic Raoul Pal shared his concerns over the future of XRP and Cardano’s ADA digital assets. These two altcoins have been on the radar due to their underperformance amid the ongoing global market uncertainty and other legal challenges.
As of press time, XRP is trading 2.47% down at $0.5952 with a market cap of $33.3 billion. The XRP price has faced several rejections at $0.60 in the past which serves as a crucial resistance for the altcoin. On the other hand, Cardano’s ADA recently lost the tenth position to Tron and has been flirting around $0.3533 with a market cap of $12.6 billion. Amid the current market downturn, the ADA price has faced strong selling pressure with bulls finding it difficult to push 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 statements about avoiding older coins like #XRP & #ADA suggest a belief that these projects may have lost their… pic.twitter.com/JwGGXs76Ai
— Good Morning Crypto (@AbsGMCrypto) August 20, 2024
Another popular analyst Max Prime also called XRP as one of the biggest scams in the crypto space. Prime noted that despite a favorable court ruling, XRP’s price has seen minimal movement, raising skepticism among observers.
Following Raoul Pal’s comments Cardano CEO Charles Hoskinson took a dig by roping in Ripple CEO Brad Garlinghouse.
So @bgarlinghouse, when are we going to the Secret Cult meetings? I never got the memo from Raoul https://t.co/Q9NBEoBcfs
— Charles Hoskinson (@IOHK_Charles) August 21, 2024
On the other hand, the Cardano community is eagerly waiting for the launch of the Chang hard fork, which is already delayed and rescheduled for August 27. Building excitement around this, Hoskinson wrote: “Are you prepared for Chang? The rocket is on the pad. Governance is coming”.
The final decision on the hard fork launch will come by August 23. Last week, nearly 70% of Cardano’s stake pool operators adopted Node Version 9.1.0, thereby overcoming a major hurdle to the Chang hard fork. The upcoming hard fork will transition Cardano to a community-driven governance model.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
