Galaxy Digital CEO Mike Novogratz admitted that his thoughts on Ripple (XRP) were wrong and he was wrong.
Galaxy Digital CEO Mike Novogratz, who stands out with his support for cryptocurrencies, made important statements about XRP, which is always on the market’s agenda.
Speaking to podcast host Kyle Chasse, Mike Novogratz admitted that his thoughts on Ripple (XRP) were wrong and he was wrong.
Renowned CEO Mike Novogratz admitted that he misjudged XRP’s survival and praised Ripple’s strength and community support.
At this point, Novogrtaz said he believes XRP will not be able to weather the legal storm it experienced with the US Securities and Exchange Commission (SEC) in 2020.
However, Novogratz stated that this idea was wrong and that XRP had proven its strength and durability.
Stating that XRP’s power is backed by its loyal army, the famous CEO said that the community helped XRP recover.
Novogratz praised Ripple CEO Brad Garlinghouse and attorney John Deaton for their frontline leadership, noting that the XRP case is more than just a legal battle and proves how a loyal community can protect a crypto project.
“XRP has one of the strongest communities that currently exist.
“In this respect, it’s similar to Bitcoin. The XRP example shows how crypto projects can weather tough times when their backers are strongly supportive of them.”
Admitting that XRP has been one of the best-performing altcoins since November 2024, with the end of the Ripple SEC cases, Novogratz commented, “Who could have predicted this?”
XRP has become one of the best-performing altcoins, with a 47.4% increase since November 2024.
