Nothing

2024

Future

<ul> 
 <li><strong>Mahmudov questions the viability of XRP and ADA as strong investments.</strong></li> 
 <li><strong>He predicts altcoins will outperform other crypto sectors despite economic challenges.</strong></li> 
</ul>  
<p>Former Goldman Sachs analyst Murad Mahmudov <a href="https://x.com/muststopmurad/status/1808818789464551671">tweeted</a> something that started a furious argument about the investing possibilities of two main altcoins: XRP and Cardano (ADA).</p> 
<p>Mahmudov’s remarks have called into doubt the long-term survival of these cryptocurrencies and imply they might not be the strong assets many people perceive them to be.</p> 
<h2 id="strong-mahmudov-s-critique-of-xrp-and-ada-strong"><strong>Mahmudov’s Critique of XRP and ADA</strong></h2> 
<p>Mahmudov has labeled <a href="https://www.crypto-news-flash.com/is-xrp-price-ready-to-skyrocket-again-technical-analysis-insights/" target="_blank" rel="noopener">XRP</a> and ADA as “cult meme coins,” suggesting they have little underlying foundation. He claims that, rather having any actual value, these altcoins are mostly dependent on community acceptance.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">This is the cycle when people are finally realizing that XRP and ADA were nothing other than Cult Memecoins all along</p> 
 <p>— Murad (@MustStopMurad) <a href="https://twitter.com/MustStopMurad/status/1808818789464551671?ref_src=twsrc%5Etfw">July 4, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>His point of view surfaces amid a moment of more general market downturn when <a href="https://www.crypto-news-flash.com/bill-morgan-buys-more-xrp-amid-market-dip-and-uncertainty/" target="_blank" rel="noopener">XRP</a> are much below their all-time highs. Though it remained bearish over the previous week with a <span style="color: #ff0000;"><strong>7.73%</strong></span> decrease, XRP is currently trading around <strong>$0.4375</strong>, a <span style="color: #339966;"><strong>1.56%</strong></span> increase over the last 24 hours.</p> 
<div class="cryptoboxes" id="mcw-345586" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="xrp" data-symbol="XRP" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="day" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
</div>
<h3 id="strong-future-of-the-altcoin-market-strong"><strong>Future of the Altcoin Market</strong></h3> 
<p>Mahmudov is positive about the larger altcoin market, even if he has questions regarding XRP and <a href="https://www.crypto-news-flash.com/cardanos-hoskinson-fires-back-ada-not-dead-to-institutions-before-governance-upgrade/" target="_blank" rel="noopener">ADA</a>. Over the present cycle, he expects altcoins overall to outperform other sectors of the crypto market. This forecast is especially interesting since altcoins usually inspire invention and acceptance inside the crypto ecosystem.</p> 
<p>Mahmudov tempers his hope, though, by noting the possible reducing impact of reduced American household savings. This economic aspect could greatly restrict future cryptocurrency market investments, therefore affecting the expected altcoin outperformance.</p> 
<p>Previously, CNF reported on <a href="https://www.crypto-news-flash.com/is-xrp-price-ready-to-skyrocket-again-technical-analysis-insights/">technical analysis</a> that indicated XRP might experience a significant price spike similar to its performance in 2017, when it increased by 70,000%.</p>

Former Goldman Analyst Critiques XRP and Cardano: Nothing Other Than Cult Memecoins

Table of Contents

Crypto News Flash

Other articles published on Jul 7, 2024

SAFLE identity wallet unveils roadmap and raises funds at a $77M valuation

Is It Too Late To Buy HOPPY? Hoppy Price Surges 29%, And This Might Be The Next Crypto To Explode

Bitcoin Price Rallies Amid The German Govt’s Transfer of 700 BTC

Expert Says These Coins Likely to Rebound Strongly in Bull Run

Profit in the Bear Market: Surprising Strategies from a Market Expert

Taiwan is not in a CBDC rush as central bank lacks timetable

Join our free newsletter for daily crypto updates!