Max Keiser Makes Ultra-Bearish Prediction for XRP: Expects Price Crash to $0.01
Well-known advocate and Bitcoin supporter, Max Keiser, has taken to social media to express his bearish outlook on XRP. The outspoken critic has predicted that the fifth largest cryptocurrency, in terms of market capitalization, is on the verge of a significant price collapse. This follows Keiser’s similar prediction earlier this month about SOL, which promptly plummeted 15% from $110 to $96.
XRP Labeled “Centralized Garbage” by Keiser
Keiser, who views all other cryptocurrencies as centralized, has made it clear that he expects them to face a tough future competing against Bitcoin, as well as traditional assets such as gold, silver, and the U.S. dollar. Taking to Twitter, Keiser referred to XRP as “centralized garbage” and went on to predict that its value would plummet to $0.01.
The critic’s negative stance on XRP dates back to 2023, when he commented on a tweet discussing Bitcoin maximalists and the SEC’s legal battle against Ripple Labs. Keiser argues that the SEC’s lawsuit against Ripple serves as evidence of XRP’s centralized nature, while Bitcoin remains uniquely outside the grasp of regulators.
Ripple’s XRP and the Wider Crypto Market Experience Declines
Last week, XRP, which is closely associated with Ripple, suffered a decline of over 11%. This drop followed a similar crash in Bitcoin’s value. XRP initially surged in response to the SEC’s approval of spot Bitcoin ETFs, along with the rest of the crypto market. However, as Bitcoin prices began to nosedive, so too did the values of Ethereum, XRP, SOL, SHIB, and other top cryptocurrencies.
On Friday, XRP recorded three consecutive red candles, resulting in a 5% drop to $0.52288. However, the cryptocurrency has since experienced a slight recovery and is currently trading at $0.54583.
Keiser Remains Bullish on Bitcoin
While remaining critical of XRP and other altcoins, Keiser has not lost his optimism for Bitcoin. The outspoken advocate has continued to tweet about his prediction that Bitcoin could reach $220,000, a scenario he first mentioned earlier.
This article was originally published on U.Today and has been edited for Bloomberg style.
Analyst comment
Negative news: Max Keiser predicts a significant price crash for XRP, labeling it “centralized garbage” and expects its value to plummet to $0.01. The wider crypto market has experienced declines, with XRP suffering an 11% drop last week. However, Keiser remains bullish on Bitcoin, predicting it could reach $220,000.
Market prediction: The negative sentiment towards XRP from Keiser could lead to increased selling pressure and a decline in its market value. The wider crypto market may also experience further declines, but Bitcoin’s bullish outlook may continue to attract investors.
