Core Viewpoint - Mike Novogratz questions the justification of XRP's $115 billion market cap given the low number of active addresses, while discussions about institutional accumulation continue on social media [1][2]. Group 1: Market Sentiment and Utility - Novogratz challenges XRP and Cardano to prove their utility beyond their loyal communities as the cryptocurrency market shifts from hype to fundamentals [2]. - He notes that both XRP and Cardano have strong fan bases, but their on-chain activity is relatively weak, raising concerns about their sustainability [3]. Group 2: Institutional Interest and Future Predictions - Jake Claver from DAG Family Office claims that major institutions are accumulating XRP quietly, suggesting that its current price does not reflect its potential future value [4]. - Claver expresses high confidence that XRP could reach triple-digit prices due to factors like ETF expansion and regulatory clarity [4]. Group 3: On-Chain Metrics and Comparisons - The number of active XRP addresses is reported at 16,703, while Cardano has over 19,000 active addresses, both significantly lower than Solana, which sees millions of active addresses [5]. - Despite lower on-chain activity, Solana holds a market cap of approximately $72 billion, ranking seventh globally [5].