Cardano and XRP Explode Thanks to Goldman Sachs!

Bittime - Cardano and XRP surge despite facing criticism from former Goldman Sachs analysts. The Cardano community highlights its decentralization and history of no downtime, even though the price of both has fallen sharply.

Cardano and XRP Explode Thanks to Goldman Sachs

Comments from the Cardano community have been very positive, with many members praising Cardano for its continued growth and ranking it as the 10th largest crypto asset by market capitalization. Cardano rejects former Goldman Sachs analyst Mahmudov's controversial statement. He stated that the statement was not credible.

Other community members questioned the analyst's assertion that Cardano is a meme coin. They say that Cardano is the most decentralized crypto asset with over 50 MAV and a history of 6.5 years with no downtime, no hacks, and no failed transactions.

Cardano and XRP Developments in the Crypto Market

One factor that can be attributed to analysts' descriptions of Cardano and XRP is the current low value of both crypto assets. Both trade below $1 despite reaching highs of $3.10 and $3.84 in 2021 and 2018, respectively.

Specifically, since the beginning of the year, Cardano has experienced a significant downward trend. While other altcoins like Solana and Ethereum have surged to new highs, Cardano's price metrics remain sluggish.

Crypto Prices Continue to Decline

Reduced investor demand for altcoins led to a 26.56% drop in crypto prices over the past month. Even though big projects like the Chang hard fork are about to start, Cardano failed to see progress. According to CoinMarketCap, the cryptocurrency price fell 13.59% in the last 24 hours, trading at $0.33.

In the same way, XRP has experienced a significant price drop. After falling a surprising 22.13% over the past month, the crypto asset is trading at $0.41, and continues to decline.

Conclusion

Goldman Sachs analyst comments draw attention to Cardano and XRP, but the Cardano community rejects negative accusations and emphasizes decentralization and history of no downtime. The cryptocurrency community remains optimistic about the long-term growth of both assets, even though their prices have fallen significantly since the start of the year, with the prices of Cardano falling 26.56% and XRP 22.13% in the past month.

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