Bitrabo Editorial
Recently, opinions regarding the price of XRP have become quite polarized among investors. Many are feeling negative about the cryptocurrency’s prospects, particularly after its inability to surpass the $0.6 mark. This bleak outlook has intensified due to the SEC’s decision to appeal the ruling in the case against Ripple.
One prominent figure sharing this negative sentiment is analyst Max Keiser. He believes that the anticipated XRP price increase that many in the community hope for is unlikely to materialize.
Bitcoin Fan Claims No XRP Rally on the Horizon
Max Keiser, a staunch supporter of Bitcoin, often emphasizes that Bitcoin is the sole credible cryptocurrency. He has a history of critiquing various altcoins, including XRP. Recently, he pointed out on social media that Solana has reached its peak relative to Bitcoin and predicts its value will decline from here.
Keiser’s comments about XRP come at a challenging time for the cryptocurrency, especially with the SEC’s recent appeal against Judge Torres’ decision in the Ripple case adding to market volatility. As a result, XRP’s price faces renewed pressure.
In a symbolic gesture, Keiser shared a humorous video of a bird failing to catch a worm, paralleling it to XRP holders who have long awaited a price increase. He implied that, much like the bird’s struggle, XRP investors may never see the rally they desire.
XRP’s Current Situation
The recent decision by Judge Torres initially sparked optimism among Ripple supporters, as it was perceived as a positive turning point. However, the SEC’s appeal has brought back uncertainty, leading to a decline in market confidence around XRP’s future.
The announcement of the SEC appeal caused XRP’s price to drop significantly. Analytics revealed that some large holders, referred to as XRP whales, moved their assets to exchanges, likely intending to sell them.
Currently, XRP is trading at $0.5413, showing a slight 1.8% increase within the last day. However, it has experienced a notable decline of 16.17% over the past week, causing it to fall beneath USDC in market cap rankings.
Max Keiser isn’t alone in his negative view; other Bitcoin advocates have previously condemned XRP’s viability. Nevertheless, there remain bullish supporters within the XRP community. One analyst suggests that the technical indicators are hinting at a potential surge for XRP, despite the ongoing SEC appeal.