Former Goldman Sachs analyst Murad Mahmudov has lambasted XRP and Cardano (ADA)
, former Goldman Sachs analyst Murad Mahmudov took aim at Ripple-affiliated XRP and Cardano . Mahmudov dismissed the two major alternative cryptocurrencies as"cult" meme coins."This is the cycle when people are finally realizing that XRP and ADA were nothing other than Cult Memecoins all along," he said on X.
However, he also does not expect a major altcoin season due to the fact that the household savings of American households have mostly evaporated.XRP thrived during the 2017 bull run after recording massive gains and turning Ripple founders into some of the richest people on the planet. The cryptocurrency is still down 87% from its all-time high that was reached in January 2018, despite gaining clarity last year.
Mahmudov, a crypto OG, came to prominence by leading a hedge fund called Adaptive Capital. However, the hedge fund was forced to shut down after suffering from a massive crypto crash in March 2020.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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