As an analyst with years of experience in the ever-evolving world of cryptocurrencies, I find myself consistently intrigued by the dynamic interplay between various digital assets and their advocates. Max Keiser, a vocal Bitcoin maximalist, has once again stirred the pot with his recent remarks on XRP‘s supposed lack of rally potential.
In a recent tweet, Max Keiser – a vocal Bitcoin advocate and ex-financial journalist – made fun of XRP owners, suggesting that the likelihood of their preferred cryptocurrency seeing a surge is practically nonexistent.
For several years now, Kaiser has served as a Bitcoin consultant to President Nayib Bukele of El Salvador. Notably, this nation has recently made Bitcoin its sole official and legal tender for its residents.
XRP rally never going to happen, Keiser says
In the short clip, Kaiser shared a scene of a young crow struggling to consume a worm. Instead of actively trying to catch it, the young bird simply opens its beak wide but fails to make any real attempts.
Bitcoin maxi’s tweet states: “XRP holders waiting for the rally that is NEVER GOING TO HAPPEN.”
As a firm believer in Bitcoin, Keiser often voices his disapproval towards alternative cryptocurrencies, particularly prominent ones such as XRP, Solana (SOL), Cardano (ADA), and Ethereum (ETH). He has a habit of labeling them as centralized “s-coins.” On one occasion, Keiser expressed agreement with the Securities and Exchange Commission (SEC) and its chairman, Gary Gensler, regarding their stance that altcoins function as unregistered securities. The SEC, in turn, has taken legal action against several cryptocurrency exchanges operating within the United States.
This May, Kaiser posted on Twitter that XRP was created with the intention of swindling billions from unsuspecting individuals, in reference to the ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC) which started at the end of December 2020.
SEC appeals Ripple case
Following news that the U.S. Securities and Exchange Commission has filed an appeal concerning Judge Analisa Torres’ ruling in its case against Ripple, the Bitcoin advisor to El Salvador’s president has made a comment on the matter.
On October 2nd, the agency lodged an appeal, initiating a chain of events that led to a substantial decrease in the price of XRP. Yet, the Securities and Exchange Commission has not yet submitted Form C with the Second Circuit Court, clarifying which specific points in the case they intend to contest.
In simpler terms, Brad Garlinghouse, CEO of Ripple, described the appeal as both frustrating and misdirected. He declared that his team will persist in their legal battle against the Securities and Exchange Commission (SEC) until they achieve a complete victory.
In a legal battle with regulators, Ripple has so far shelled out over $200 million. Out of this amount, a judge ordered them to pay $125 million in fines this year, which had initially been sought by the SEC as part of a $2 billion penalty.
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2024-10-05 11:20