Famous Bitcoin maximalist and vocal critic of altcoins, Max Keiser, has once again targeted XRP, predicting a significant price drop for the fifth-largest cryptocurrency by market value. Keiser’s tendency to make bold predictions and belittle alternative cryptocurrencies is well known. His latest tweet underscores his bearish outlook on XRP.
Keiser’s Bitcoin-Centric Perspective
A staunch advocate for Bitcoin, Max Keiser is known for his unwavering belief in Bitcoin’s superiority over other cryptocurrencies. His critical stance often extends to altcoins, which he views as centralized and inevitably facing declines against Bitcoin’s dominance.
Keiser’s latest target is XRP, a cryptocurrency that has faced regulatory scrutiny and legal challenges in the past. In a recent tweet, Keiser referred to XRP as “centralized garbage” and boldly predicted that the XRP price could fall to $0.01.
This claim is consistent with Keiser’s broader narrative that Bitcoin occupies a unique position beyond the regulatory reach faced by other cryptocurrencies.
Historical Context: Keiser’s Stance on XRP and the SEC Case
Keiser’s skepticism towards XRP is not new. In the summer of 2023, he responded to a tweet by Ripple supporter and CryptoLaw U.S. founder John Deaton. Deaton’s tweet discussed Bitcoin maximalists and the ongoing legal battle between the Securities and Exchange Commission (SEC) and Ripple Labs. The SEC had initiated legal proceedings against Ripple Labs, claiming XRP was an unregistered security.
Keiser reiterated his belief that XRP’s centralization is a fundamental flaw and that the SEC’s legal action against Ripple is proof of this. In contrast, Keiser highlighted Bitcoin’s seemingly untouched status by regulators.
Keiser’s Broad Criticism of Altcoins
Beyond XRP, Keiser has not spared other leading cryptocurrencies from his criticism. ADA, SOL, and various top-tier cryptocurrencies were labeled as securities, and the founders of Cardano and Solana were accused of being scammers in Keiser’s tweets.
Recent market dynamics show that XRP, linked to Ripple, accompanied Bitcoin’s decline since last Thursday, experiencing an 11% drop.
While XRP has seen a brief recovery, trading at $0.54583, it remains unclear how Keiser’s prediction will affect investor sentiment and future market movements.