Mike Novogratz is raising a sharp red flag for the market, and it is one worth paying attention to. He believes tokens like $XRP and $ADA could slowly lose relevance if they fail to prove clear real world utility. The crypto market is changing, and the old days of hype alone driving price may be coming to an end.

Capital is starting to flow toward projects that actually solve problems, generate revenue, and show real business adoption. Investors are becoming more selective, focusing on networks that have active users, strong on chain activity, and partnerships that matter. Narratives can still move price in the short term, but long term value now demands execution.

For $XRP and $ADA, this becomes a defining phase. If meaningful use cases, enterprise demand, and measurable growth do not accelerate, patience may wear thin. At the same time, projects delivering real utility could quietly gain strength while the spotlight stays elsewhere.