Max Keiser, self-proclaimed Bitcoin maxi and American podcaster, has once again blasted Ripple-promoted token XRP, stirring community rage.
In his latest tirade on the X platform, Keiser called XRP a “centralized garbage” in a post captioned “XRP Crash Update”. Keiser, who is the advisor to El Salvador president Nayib Bukele, claimed XRP is mathematically programmed to “trade at virtual zero against Bitcoin.”
He shared a screenshot of the price of XRP plummeting. The sixth-largest crypto by value was changing hands at $0.5125 at publication time, which is 3.4% lower than yesterday and 11.2% lower than last week.
XRP’s dull price action came as Bitcoin slid below the $39,000 level on Tuesday, with markets continuing to feel the aftermath of spot Bitcoin ETF share selloffs. BTC slumped over 4% today, reaching the lowest level seen in two months. The king coin had recently hit a two-year high of nearly $49,000 after spot ETFs debuted in the U.S. market on Jan. 11.
Is Keiser Right About His Forecast?
It’s pertinent to mention that Max Keiser has been envisioning a nightmarish future for altcoins for as long as we can remember. In May 2023, the Wall Street veteran claimed that all tokens, including Ethereum and XRP, were unregistered securities apart from Bitcoin. He later posited that XRP and other altcoins had been created by financial terrorists to finance terrorism.
However, despite XRP’s latest price downturn, the crypto has exhibited strength, retaining its position among the top 10 most valuable cryptocurrencies on the leaderboard.
Moreover, Bitcoin maxi Keiser oftentimes downplays the complexities of other cryptos. XRP’s fate is determined by more than just unfounded centralization claims. The ongoing courtroom showdown with the United States Securities and Exchange Commission (SEC) concerning its security classification, for instance, plays a key role in shaping its path. Additionally, technical and fundamental elements contribute to the valuation of XRP, thus questioning the plainness of Keiser’s “garbage” branding.