thecryptobasic.com
Joshua Jake, a widely followed community pundit, recently reignited the argument that XRP and Cardano (ADA) are “dead,” calling for diversification.
Jake has been a long-standing critic of XRP, consistently advising market participants to divest from the token. His pessimism toward XRP stems from the asset’s disappointing performance in this bull market.
XRP and Cardano (ADA) Are “Dead”
Notably, Cardano was among the top performers at the onset of this bull run, doubling in price during the first quarter of the year. However, the emergence of bearish sentiment has severely dealt with ADA, and the token has been unable to recover over the past five months.
This lackluster performance has caused ADA to share the same frustrating trajectory as XRP.
As a result, industry experts, including Raoul Pal, CEO of Real Vision, publicly encouraged crypto enthusiasts to consider investing in assets other than XRP and ADA. Pal argued that staying overly attached to these tokens could lead to missed opportunities in the broader market.
He urged investors to overlook the popular hype suggesting that this cycle could be the gamechanger for XRP. “Hope is not an investment strategy,” he emphasized. Pal stressed that investors should be more pragmatic and focus on assets with stronger momentum and potential for growth.
While Pal has faced backlash for his stance against XRP and ADA, Jake recently revisited this message to reinforce his belief that both assets are essentially “dead.”
Diversify with Newer Projects
Furthermore, Pal’s message urged the community not to get stuck in what he describes as “cults” surrounding XRP and ADA. Instead, he advised being “mercenaries” in the market, allocating capital to projects that offer the best risk-adjusted returns.
Joshua Jake echoed Pal’s sentiments, contending that while some may still see prospects for XRP and ADA to achieve modest gains, the evolving crypto landscape favors newer projects. “As the industry matures, new tokens are becoming the dominant players,” Jake stated.
Besides, he highlighted that many investors have made more significant profits with old large-cap cryptos like Ethereum or Solana, unlike most long-term XRP investors who are nursing disappointments.
Both Pal and Jake suggest that the key to navigating the current market is diversification rather than being overly focused on a signal narrative. As the debate over XRP and ADA’s viability continues, Jake’s renewed criticism adds fuel to the fire.