Hoskinson Invites Ripple CEO to ‘Cult Meetings’ Amid XRP Attack

• Raoul Pal of Real Vision recently advised investors to make their investment decisions without emotions and fear by offloading their XRP and ADA to favor emerging assets. 

• Cardano co-founder Charles Hoskinson responded to Pal’s comment, calling the Ripple CEO for a “secret cult meeting.” 

Charles Hoskinson, the co-founder of Cardano (ADA), has issued a savage reply to Real Vision’s founder Raoul Pal after labeling XRP and ADA as old coins and advising investors to ditch them for fresh assets with bullish momentum. 

Pal made a scathing assessment of XRP and ADA in a circulating video, calling them out for failing to put up a “reasonable” rally in a long time. According to him, investors’ hesitation to offload XRP and ADA is due to their emotional attachment and hope that their patience will finally pay off. 

To Pal, this is a huge fallacy investment-wise, as holders could liquidate their assets for those with better value propositions and re-enter the XRP market if it finally begins to set off. According to him, investors should base their decisions on rationality rather than fear and emotions. 

In another part of the video, Pal defined the XRP and ADA investors as misled by a “cult-like” mentality. Reminding them of their core investment objectives, the Real Vision founder highlighted that the primary goal of investing in the crypto market is to make a profit, not to get entrapped into a certain ideology. In other words, he advised that investors should be “mercenaries” who seek to capitalize on opportunities rather than follow a cult. 

To clarify his intention, Pal disclaimed that his submission is rooted in genuine concern rather than a conscious effort to subject the projects to severe criticism. 

Pal has not always maintained this opinion about XRP. In a December 2023 publication, we covered his interview with pro-XRP attorney John Deaton, where he disclosed his strategic entry into the market. 

Cardano Boss and XRP Enthusiasts Respond to Pal

Responding to this, Hoskinson humorously called on Ripple’s boss, Brad Garlinghouse, asking him when their secret cult meetings would commence. 

So @bgarlinghouse, when are we going to the Secret Cult meetings? I never got the memo from Raoul https://t.co/Q9NBEoBcfs— Charles Hoskinson (@IOHK_Charles) August 21, 2024

Pal’s comments have also received responses from several enthusiasts, including pro-XRP attorney Fred Rispoli. Rispoli acknowledged Pal’s genuine concern and his argument that some older cryptos may be less relevant now. However, he expressed his disagreement with his assessment of the assets. 

I thoroughly enjoy Raoul and, until shown otherwise, consider him authentic and well-meaning. I respectfully disagree with him on XRP but that thesis is reasonable and has not been proven wrong…yet. I do agree there exist “old” coins (cough, EOS) whose days are long past.

Similarly, Dizercapital founder Yassin Mobarak highlighted that XRP is one of the few crypto investors who cannot afford to be caught off guard when it skyrockets. Until then, Mobarak admitted that the journey would be boring, painful, and demoralizing. 

Countering the argument is another XRP enthusiast identified as “Jungle”. According to him, it is important to have proven assets like XRP and ADA mixed with emerging blockchains. 

While it’s essential to ride the momentum of emerging blockchains, anchoring your portfolio with proven assets is just as critical. XRP and ADA have stood the test of time, offering significant upgrades, development, and large, supportive networks. Why not have the best of both worlds? Balance your portfolio with exciting new projects while keeping a strong foundation in battle-tested blockchains. Don’t let hype overshadow the value of staying grounded in innovation and reliability.

At press time, XRP was trading at $0.599 after declining by 1.77% in the last 24 hours. 

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