Crypto Analyst Says Ripple (XRP) and Cardano (ADA) are Overvalued

When it comes to cryptocurrency investing, it is best to hear all perspectives. Cardano is a project created by a former Ethereum co-founder. This blockchain is known for its technical prowess and strong online community.

Meanwhile, XRP is another cryptocurrency project that has been in a scuffle with SEC for years and managed to retain its value to date.

Leigh Drogen is CIO and General Partner at Starkiller Capital with a $50 million AUM in 2022. Dragen has recently taken a shot at two major cryptocurrencies both hailing from the top 10 rankings.

Bitcoin Revolution is a crypto trading tool for investing in the crypto market with an %88 average win rate on trades and is the #1 trading software for crypto traders from all around the globe in 2022. Try it For FREE Today. 

According to his latest tweets, both ADA and XRP are wholly useless crypto products. However, it is interesting to note that he is not against the entire cryptocurrency market.

Users of XRP and ADA will Move to Other Cryptocurrency Projects

Drogen has mentioned in his new tweet that the market share of XRP and ADA valued in millions of dollars is going to disperse soon. He claimed that users from both communities are going to shift their investments to other cryptocurrencies that work.

It is worth noting that Cardano has recently completed the onboarding of its latest update called Valentine. This update has added the feature of cross-chain transfers and increased security for the decentralized application on the network.

At present, the total market cap of ADA is $14 billion while the XRP market cap is estimated to be around $20 billion.

Drogen is not speaking in a personal capacity about the alleged uselessness of ADA and XRP. He has used previous critical comments made about these cryptocurrency products. Journalist Max Keiser termed ADA as centralized trash in 2021. Meanwhile, Peter Brandt rebuked XRP by calling it “garbage” in 2022.

On the other hand, Craig Wright who has claimed to be the original creator of Bitcoin has also dismissed XRP as a useless pump-and-dump scheme.

However, as visible from the massive market cap of both currencies, the institutional and retail traction for XRP and ADA is above average. Nevertheless, the naysayers disregard their followers as weird cultists.

start trading

Best Forex World is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Some of the content on this site (not all) is paid content that is not written by our authors and the views expressed do not reflect the views of this website. Any disputes you may have with brands or companies mentioned in our content will need to be taken care of directly with the specific brands and companies. The responsibility of our readers who may click links in our content and ultimately sign up for that product or service is their own. Cryptocurrencies, NFTs and Crypto Tokens are all a high-risk asset, investing in them can lead to losses. Readers should do their own research before taking any action.

Previous post Cardano Founder Charles Hoskinson Addresses Concerns Regarding Contingent Staking
Next post Rosalyn Layton Wants SEC to Reveal Hinman’s Speech Documents