Jan 30, 2024: Renowned Bitcoin advocate Max Keiser has once again targeted XRP, predicting a significant crash for the digital asset against Bitcoin. In a recent post titled “XRP Crash Update,” Keiser referred to XRP as “a centralized garbage that is mathematically guaranteed to trade at virtual zero against Bitcoin.”
Keiser accompanied his statement with a screenshot of the XRP chart, illustrating a decline in its price. At the time of writing, XRP had experienced a 5.68% drop in the last 24 hours, trading at $0.498. This decline mirrored Bitcoin’s fall of 5.25% during the same period, reflecting the overall market’s poor performance.
The broader cryptocurrency market, including Bitcoin, faced a significant setback as Bitcoin fell below $39,000 in a recent market crash, erasing nearly all gains from the previous two months. This downturn occurred ahead of anticipated spot exchange-traded fund (ETF) approvals in the United States.
XRP had initially shown strength against Bitcoin on January 9, rebounding from multiyear lows in its pairing. However, it later followed the trend of Bitcoin’s price, entering into a range-trading phase in its BTC pairing.
Despite Max Keiser’s repeated criticism and predictions of a crash for XRP, the digital asset has demonstrated resilience. Keiser had previously foreseen Ripple losing its legal battle with the United States Securities and Exchange Commission (SEC) and claimed that XRP was a “security.” Contrary to his predictions, Ripple secured a significant victory in the SEC litigation when the judge ruled that XRP was not a security. The SEC also dropped its accusations against Ripple executives Brad Garlinghouse and Chris Larsen.
XRP has maintained its position among the top 10 cryptocurrencies by market capitalization despite legal challenges and market uncertainties. As of now, XRP stands as the sixth-largest cryptocurrency with a market capitalization exceeding $27 billion.