Mike Novogratz Bullish on Ripple (XRP), Cardano (ADA)
The founder of Pantera Capital, Dan Morehead, and cryptocurrency tycoon Mike Novogratz recently appeared on “Galaxy Brain” to discuss the viability of the XRP token, which is associated with Ripple.
According to Novogratz, ‘They started early when there were not as many choices and they built communities,” which is why Cardano or XRP is still one of the bigger coins.
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“I believe that without utility, new projects will have a harder time becoming sustainable. Yes, the valuations aren’t useful right now,”
Novogratz continued. Novogratz, who previously criticized ADA and XRP, spoke positively about the latter earlier this year, stating that anyone should be able to purchase the Ripple-affiliated token. Michael Edward Novogratz has a net worth of $2.5 billion
He asserted that the cryptocurrency’s compelling story keeps the community interested. By market capitalization, XRP is still the third-largest cryptocurrency following its spectacular resurgence in the fourth quarter of 2024. It is worth $157 billion at the moment.
Mike likened the XRP army to Tesla’s fan base, which sent the company viral long before it grew into the massive electric car company it is today. Although the community behind Tesla didn’t care, Wall Street analysts at the time insisted that the company’s valuation didn’t make sense.
Ripple’s token has been a battlefield for years, pitting its most ardent supporters against its scathing detractors. Even after the SEC sued Ripple, XRP supporters remained steadfast.
They promoted Ripple’s goal of making cross-border payments affordable, quick, and available to everyone on all social media platforms, including Instagram, Twitter, and TikTok. They posted memes, made hashtags, and shared their message on these platforms.
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