Popular media personality Raoul Pal believes investors should avoid “old” coins like Ripple’s XRP and Cardano (ADA). He made these comments during an interview posted on the X platform. The move comes as Ripple closes a major legal conquest against the U.S. Securities and Exchange Commission (SEC) in a three-year-old lawsuit.
Pal contends that despite potential positive outcomes from the legal battle, older coins are no longer as relevant due to a lack of innovative edge compared to newer cryptocurrencies.
Raoul Pal Takes Aim at XRP Holders
The CEO of Real Vision strongly believes that investors need to move on to these better, innovative alternatives and that many among the old guard are doing a disservice to the crypto cause by being in a cult of irrelevant tokens.
This was a direct jab at the XRP holders, who are known to be a vocal community on platforms like X. Their collective online activity does point to cult-like behavior, as Pal was quick to point out.
He said:
“….Please move to where the strong momentum is. I know the feeling that this time is going to be the big one, you’ll get plenty of motivation to get back in. Don’t miss the bull market because you are in a narrative of the past. I don’t want to get attacked by people for this but I feel like you’ve done a disservice by being in a cult…..cults don’t make money except for the leaders.”
He went on to include Cardano in his prediction of “old, irrelevant coins,” basically calling them relics of the past. This hard-hitting criticism of some of the first altcoins to emerge from the crypto market invited mixed responses from the crypto community.
The Future
Pal is clear in his take and wants investors to stop skulking around older digital currencies that the market has rejected. However, other older coins continue to shine if we take Pal’s criticism to the word. They are expected to have a big 2024-2025 bull market, including Ethereum (ETH), launched in 2016; Dogecoin, introduced in 2013; and Tron, which began in 2013.
So, the difference between them and coins like XRP and ADA is that those two supposedly stopped innovating. Ripple has upped the ante in the last year, striking deals with banks, remittance companies, and governments worldwide to increase its appeal. The issue of lack of innovation is debatable as a host of legacy coins remain slow to respond to change.
However, comments like these from Pal aren’t likely to change the stance of the strong XRP community, and they are likely to continue their tireless efforts to promote the cryptocurrency on all social media platforms.
