In a new interview on Tuesday, August 20, renowned economist Raoul Pal shared his concerns about the future of XRP and Cardano’s digital asset ADA. The two altcoins have been under scrutiny due to poor performance amid ongoing global market turmoil and other regulatory challenges.
As of press time, XRP is trading down 2.47% at $0.5952 with a market capitalization of $33.3 billion. The XRP price has faced several rejections at $0.60 in the past, which has served as a key resistance level for the altcoin.
On the other hand, Cardano’s ADA recently lost its tenth position to Tron and is hovering around $0.3533 with a market capitalization of $12.6 billion. Amid the current market downturn, the price of ADA has faced heavy selling pressure as buyers find it difficult to push above $0.40.
In a recent interview, Raoul Pal stated that investors should stay away from ADA and XRP, adding that the two projects are losing their innovative edge over new competitors in the market.
Another prominent analyst, Max Prime, also called XRP one of the biggest scams in the crypto space. Prime noted that despite the favorable court ruling, XRP's price has seen minimal fluctuations, raising skepticism among observers.
On the other hand, the Cardano community is eagerly awaiting the launch of the Chang hard fork, which was delayed and rescheduled for August 27. To build excitement around the event, Hoskinson wrote: “Are you ready for Chang? The rocket is on the launch pad. Governance is coming.”
The final decision on the hard fork launch will be made on August 23. Last week, nearly 70% of Cardano’s stake pool operators adopted Node Version 9.1.0, clearing a major hurdle for the Chang hard fork. The upcoming hard fork will transition Cardano to a community-led governance model.
