XRP and Cardano need to prove they're useful beyond just fans, Mike Novogratz says

Mike Novogratz emphasized that both XRP and Cardano need to prove their usefulness beyond just fan support as the cryptocurrency market matures. He noted that there is a growing shift towards fundamental-focused projects, which puts pressure on both assets to demonstrate practical utility. Ripple could potentially gain traction through its payment technology, but currently, they must address the pressing challenge of proving that utility. Similarly, Cardano must showcase that its innovations translate into market value. As the market landscape evolves, investors should remain vigilant. Novogratz indicated that both Ripple and Cardano need to surpass mere fan enthusiasm and validate their worth through new technological advancements and practical applications. However, the information currently available does not provide clear trading signals or levels. Thus, adopting a neutral stance is advisable at this time.