Max Keiser, a monetary journalist and the host of RT’s Keiser Report, has as soon as once more disparaged the Ripple-promoted token XRP, asserting that its buyers won’t ever witness a much-anticipated parabolic rally.
In current years, Keiser has change into a member of El Salvador’s Bitcoin workplace and an advisor to the Latin American nation’s president, Nayib Bukele. El Salvador made Bitcoin a authorized tender in 2021 and has since continued to extend its BTC holdings.
Keiser On XRP’s Doubtlessly Gloomy Future
Max Keiser shared a brief video on X (aka Twitter) during which a crow tries to devour a worm. The crow opens its mouth however doesn’t achieve catching the worm.
Alongside the video, Keiser captioned: “XRP holders ready for the rally that’s NEVER GOING TO HAPPEN.”
As an unabashed Bitcoin maximalist, Keiser steadily bashes different cash resembling XRP, Ether (ETH), Solana (SOL), and Cardano’s ADA, calling them “centralized rubbish” on the verge of crashing to zero. He additionally mentioned earlier that he agreed with the Securities and Alternate Fee’s assertion that the majority altcoins are unregistered securities.
Earlier this yr, Keiser the BTC proponent claimed that XRP was created by Ripple “to steal billions from fools,” including that the seventh largest cryptocurrency would proceed “trending to zero in opposition to Bitcoin”.
XRP To Be Caught In Downtrend Amid Ripple’s Current Authorized Setback?
XRP has slipped by over 14% thus far in October, with its losses spurred primarily by renewed regulatory uncertainties on the heels of the U.S. Securities and Alternate Fee’s (SEC) contemporary enchantment within the long-running Ripple case.
On Oct. 2, the securities watchdog filed a notice of appeal to the Second Circuit Court docket of Appeals, simply lower than two months after Choose Analisa Torres gave her final judgment within the now four-year-old go well with in opposition to Ripple.
The SEC’s enchantment may pose critical headwinds for XRP’s worth, notably if the Wall Road regulator efficiently argues that the token’s programmatic gross sales on crypto exchanges to retail buyers certified as securities. Being categorized as safety is broadly seen as a bearish growth within the cryptosphere, as securities are extra tightly regulated than commodities.
Furthermore, the enchantment dampens hopes for a spot XRP exchange-traded fund (ETF) regardless of the first application not too long ago reaching the SEC’s desk. As ZyCrypto reported earlier, specialists have now pinned the chances of this ETF submitting seeing the sunshine of day at nearly zero, particularly if Democratic presidential nominee Kamala Harris wins the White Home.