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Expert says XRP will crash to $0.01, slams it as ‘centralized garbage’

Expert says XRP will crash to $0.01, slams it as ‘centralized garbage’

Despite his previous prognosis of the United States Securities and Exchange Commission (SEC) cutting down Ripple in the years-long legal battle proving wrong, Bitcoin (BTC) expert and outspoken critic Max Keiser has once again slammed XRP and predicted a price downfall.

As it happens, Keiser, who had previously attacked the blockchain company, calling its operations a “Ponzi scheme,” this time referred to the XRP token as “centralized garbage,” arguing its price will continue to decline until it drops to $0.01, as he said in an X post published on January 19.

Indeed, the analyst posted a screenshot of the price of XRP, which stood at $0.530783 and suggested a decline of 4.8% on the day, as well as a 1.1% drop against Bitcoin, according to the data on the cryptocurrency analytics platform CoinGecko at the time of his post.

As it happens, this is far from the first time for Keiser to attack XRP. Back in June 2023, he argued that Ripple and XRP would not triumph over the SEC because the battle “was never about the law,” adding that the securities regulator had marked the crypto asset “for death and Gary’s job is to take it out.”

Shortly after, he reiterated his views, stating that it was only a matter of time before the SEC would bring down XRP while criticizing the Ripple CEO Brad Garlinghouse and calling his operation a Ponzi scheme, albeit acknowledging that some could qualify the agency’s actions as “overreaching.”

XRP price analysis

Presently, the sixth-largest asset in the crypto sector by market capitalization is changing hands at the price of $0.5085, which suggests a decline of 3.97% in the last 24 hours, adding up to the 11.43% loss across the previous seven days and an 18.11% drop on its monthly chart, as per data on January 23.

XRP 7-day price chart. Source: Finbold

All things considered, while there are certain indications to support Keiser’s claims, it is important to remember that things in this industry have had a habit of turning the tables, which is why it is essential to carry out one’s own research and risk analysis before investing in any asset.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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