Cover image via U.Today
Max Keiser, a prominent Bitcoin advocate and critic of bitcoin altcoins, has once again attacked XRP.
In a recent X post he captioned “XRP Crash Update,” Keiser calls XRP “a centralized garbage that is mathematically guaranteed to trade at virtual zero against Bitcoin.”
$XRP CRASH UPDATE 😂😂😂 $XRP is centralized garbage that is mathematically guaranteed to trade at virtual zero against #Bitcoin BY CONTRAST: Bitcoin is Perfect Money, perfectly decentralized, sent by God to unfuck our money. pic.twitter.com/SLefwIcYY1— Max Keiser (@maxkeiser) January 23, 2024
Keiser posted a screenshot of the XRP chart showing its price decline. At the time of writing, XRP was down 5.68% in the last 24 hours to $0.498. Bitcoin fell 5.25% in the same time frame, trading at $38,750, mirroring the market’s poor performance.
Bitcoin (BTC) fell below $39,000 in Tuesday’s market crash, wiping out virtually all of the previous two months’ gains ahead of spot exchange-traded fund (ETF) approvals in the United States.
XRP began to surge against Bitcoin on Jan. 9 after hitting a bottom that marked multiyear lows in its pairing. This trend sustained for a while until XRP began mirroring the BTC price trend, subsequently entering into range-trading in its BTC pairing.
XRP continues to show resilience
Keiser has oftentimes expressed his scorn for XRP and Ripple in the wake of its legal battle with the United States Securities and Exchange Commission (SEC), predicting that Ripple was going to lose the lawsuit and that XRP was a “security.”
However, Keiser’s predictions have not always been correct, as Ripple won a significant victory in the SEC litigation after 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 also demonstrated resilience, maintaining its position among the top 10 cryptocurrencies by market capitalization despite legal woes and market uncertainty. XRP is now the sixth-largest cryptocurrency by market capitalization, valued at more than $27 billion.
That said, whether XRP will crash to virtual zero in its Bitcoin pairing or rise to new heights remains yet to be seen.