General sentiment surrounding the XRP price was divided between market participants in recent months. Latest market dynamics we have seen many investors adopt a negative outlook on the cryptocurrency’s price, especially given its failure to reach fresh highs above $0.6. Moreover, this negative outlook has recently been exacerbated by the news that the SEC is appealing the ruling in the Ripple-SEC case.
One notable analyst who has taken a negative outlook on XRP is Max Keiser. According to him, the XRP rally that community members are waiting for will never happen.
Bitcoin maximalist claims that an augment in XRP prices will not occur
Max Keizer is a robust Bitcoin maximalist, known for his stance that Bitcoin is the only legal cryptocurrency. Keiser is known to criticize many altcoins, and XRP is not the only one. He recently noticed on the social media platform X that Solana has already reached its highest level in history against Bitcoin and predicts a downward trajectory for the asset in the future.
Keiser though latest comment regarding XRP it came during hard times for cryptocurrency. In the current situation, the price of XRP seems to be under pressure again due to the prolonged lawsuit involving the SEC and Ripple, its creator. This is because the SEC has appealed Judge Torres’ ruling in the Ripple case.
In addition to his critical commentary on XRP, Keizer shared a video on social media of a bird repeatedly failing to catch a worm in its beak. He drew a comparison between the bird’s futile attempts and XRP holders who have been waiting for so long for XRP prices to rise. The video ended with the bird failing to capture its beak, which means Kaiser believes XRP holders will never be able to capture XRP’s growth.
The current state of XRP
The recent settlement issued by Judge Torres was initially seen as a major breakthrough in Ripple’s favor, bringing fresh hope to XRP investors. However, the SEC’s subsequent decision to appeal the ruling reignited uncertainty and cast a shadow over the future of the XRP price, again dampening optimism.
Not surprisingly, news of the SEC appeal caused the price of XRP to plummet. Network data shows that some people initiated this price drop XRP whales are moving their assets to cryptocurrency exchangesprobably planning to sell them.
At the time of writing, the price of XRP is $0.5413, reflecting an augment of 1.8% in the last 24 hours. However, over the past week, the cryptocurrency has lost a significant portion of its market capitalization, losing 16.17% over the past seven days. This, in turn, pushed XRP below stablecoin USDC in the market capitalization rankings.
Max Keizer is not the first Bitcoin maximalist to be negative about XRP. Other analysts do declared cryptocurrency as dead in the past. Still, the XRP community has enough bull supporters. According to one analyst, technical analysis shows that the XRP price chart is signaling an explosive demonstration in the macro horizon, despite the SEC’s appeal.
Featured image created with Dall.E, chart from Tradingview.com
