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Max Kaiser, financial journalist and host of RT’s Kaiser Report, once again disparaged the Ripple-promoted token XRP, asserting that its investors will never witness the long-awaited parabolic rise. .
In recent years, Kaiser has been a member of El Salvador’s Bitcoin office and an advisor to the Latin American nation’s President Nayib Boucle. El Salvador made Bitcoin its legal currency in 2021 and has continued to increase its BTC holdings ever since.
Keizer talks about XRP’s potentially bleak future
Max Kaiser shared a short video on X (aka Twitter) of a crow trying to eat an insect. The crow opens its mouth but cannot catch the insect.
“XRP holders are waiting for a rally that will never happen,” Kaiser captioned the video.
As an unabashed Bitcoin maximalist, Kaiser frequently bashes alternative coins such as XRP, Ether (ETH), Solana (SOL), and Cardano’s ADA, calling them “centralized” coins on the verge of crashing to zero. It is called “Tagomi”. He also said he agrees with the Securities and Exchange Commission’s assertion that most altcoins are unregistered securities.
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Earlier this year, BTC supporter Kaiser claimed that XRP was created by Ripple “to steal billions of dollars from idiots,” and the seventh-largest cryptocurrency continues to have “zero trend versus Bitcoin.” He added that it would be.
Will Ripple’s recent legal setback send XRP into a downtrend?
XRP has fallen more than 14% so far in October, largely driven by new regulatory uncertainty following a new U.S. Securities and Exchange Commission complaint in the long-running Ripple scandal. This added to the losses.
On October 2, less than two months after Judge Annalisa Torres issued her final ruling in the four-year-old lawsuit against Ripple, the securities watchdog filed a notice of appeal with the U.S. Court of Appeals for the Second Circuit. Submitted.
The SEC’s appeal could pose a serious headwind to the price of XRP, especially if Wall Street regulators are successful in arguing that programmatic sales of tokens on crypto exchanges to retail investors qualify as securities. There is a possibility that it will bring about The classification as a security is widely seen as a bearish development in the crypto world, as securities are more heavily regulated than commodities.
Additionally, the complaint dampens expectations for the Spot XRP exchange-traded fund (ETF), even though the first filing recently arrived at the SEC’s desk. As previously reported by ZyCrypto, experts now say the chances of this ETF application seeing the light of day are almost zero, especially if Democratic presidential candidate Kamala Harris wins the White House. are.
