⌛ Did you miss ProPicks’ 13% gains in May? Subscribe now & catch June’s top AI-picked stocks early.Unlock Stocks

Max Keiser Expects XRP to Crash to $0.01

Published 01/21/2024, 05:57 AM
Updated 01/21/2024, 06:00 AM
Max Keiser Expects XRP to Crash to $0.01

U.Today - Vocal Bitcoin proponent Max Keiser, who is known for his severe criticism of altcoins, has taken to the Twitter/X social media platform to take a jab at XRP and predict an approaching price collapse of the fifth largest cryptocurrency in terms of the market capitalization value.

Over the past few months, Keiser made a similar ultra-bearish prediction about Solana (SOL), also expecting its price to crash. It happened at the very start of January, when SOL faced a 15% drop, falling from $110 to $96 quickly.

Max Keiser bashes XRP

Being a hardcore Bitcoiner, Keiser believes all the other cryptocurrencies in the market to be centralized and expects them to crash against Bitcoin, as well as gold, silver, U.S. dollar and all other assets in the future.

This time, he published a tweet, calling XRP “centralized garbage” and stating that it is “going to $0.01.”

In the summer of 2023, Keiser commented on a tweet published by Ripple supporter and advocate John Deaton, founder of CryptoLaw U.S. Deaton’s tweet was about Bitcoin maximalists and the SEC, the Securities and Exchange Commission of the U.S., which started a long-running legal process against Ripple Labs in late 2020, claiming XRP to be an unregistered security.

XRP going down

Keiser then again stated that XRP is too centralized, and the fact of the SEC suing Ripple was proof of that. Bitcoin, as Keiser pointed out, was completely and “uniquely” out of regulators’ reach.

In his other tweets, Keiser often slams ADA, XRP, SOL and other top cryptocurrencies as securities and founders of Cardano and Solana as scammers.

Since Thursday last week, the Ripple-affiliated cryptocurrency XRP has declined by more than 11%, following Bitcoin, which also crashed on the same day. It first surged on the news of spot Bitcoin ETFs approval by the SEC, along with the rest of the crypto market, but then Bitcoin began a large decline and so did ETH, XRP, SOL, SHIB and other top cryptocurrencies.

On Friday, XRP saw three consecutive red candles, pushing it nearly 5% down to $0.52288. By now, however, the coin has made a slight recovery, changing hands at $0.54583.

Keiser has been recently tweeting about Bitcoin that the $220,000 scenario he had predicted earlier is “still in play.”

This article was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.