Max Keiser, a strong supporter of Bitcoin who has recently been critical of other cryptocurrencies, has made news again by saying he thinks XRP will go down in value. Keiser took a serious jab at XRP, publicly called it “centralized garbage” on Twitter, and predicted its price would drop to $0.01. Keiser is famous for always supporting Bitcoin. He always thinks that other crypto is centralized and will lose much value compared to Bitcoin and traditional investments like gold and silver.
It is no surprise that Keiser has been skeptical of many cryptocurrencies in the past, including Solana (SOL), and this latest statement is no different. In particular, when Keiser responded to a tweet by Ripple supporter John Deaton in the summer of 2023, he focused on how XRP was said to be centralized by mentioning the ongoing legal fight with the SEC. Keiser often has negative things to say about altcoins like ADA, XRP, and SOL, and he claims that the people who started them are scammers.
At the same time that Keiser made his statement, the value of XRP has been decreasing. It has lost over 11% of its value since Thursday. This drop fits in with a larger market correction that began when Bitcoin fell after the initial rise when the SEC approved spot Bitcoin ETFs.
XRP has had some setbacks lately, but it has made a small comeback and is now trading at $0.54583. In the last 24 hours, XRP experienced a significant 4.47% drop, resulting in the automatic liquidation of many traders’ XRP positions. The unexpected market turmoil led to a notable outcome, with CoinGlass reporting an astonishing $2.47 million worth of XRP positions liquidated during this period.
Bitcoin’s value decreased in the last 24 hours, dropping by 4.70% initially but showing a slight recovery, resulting in an overall decline of 3.4%. Since last Thursday’s spike above $49,000 due to spot ETF approval, Bitcoin has lost nearly 16% of its value.
As of now, it is trading at $41,330. Keiser’s continued support for Bitcoin stays strong, as he says the $220,000 scenario is still possible. As the cryptocurrency market goes up and down, Keiser’s strong opinions add to the ongoing conversations about the future of certain coins and the market as a whole.
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