Stay Away From Cardano and XRP, Warns Ex-Goldman Sachs Executive

Ex-Goldman Sachs exec Raoul Pal criticized popular altcoins XRP and Cardano (ADA) in a recent interview.

Pal argued that both Ripple and Cardano are falling behind in innovation compared to newer altcoin projects. He advised investors to steer clear of ADA and XRP, suggesting that these two cryptocurrencies have lost their competitive edge in the rapidly evolving market.

According to Pal, XRP and ADA are now outdated, remnants from a previous market cycle. He cautioned investors against focusing on older altcoins like these during the next bull run, even comparing XRP supporters to a “cult.” Pal claimed that only a few high-profile investors have profited from XRP, while the average investor has not.

Adding to the conversation, analyst Max Prime labeled XRP as one of the biggest frauds in the crypto world. Prime pointed out that despite a favorable court ruling, XRP’s price has seen little improvement.

Meanwhile, Cardano founder Charles Hoskinson weighed in on the debate, tagging Ripple CEO Brad Garlinghouse and jokingly asking when they would be attending “Secret Cult meetings.” Hoskinson also expressed confusion over Pal’s negative views on XRP and ADA.