The crypto world has been shaken significantly by recent developments, as the notice of appeal filed by the U.S. Securities and Exchange Commission (SEC) has crushed the hopes of many XRP holders. Amid these developments, Max Keiser, a prominent Bitcoin maximalist and former financial journalist, has vocalized his skepticism regarding XRP.
Keiser shared his views on X, suggesting that the XRP surge the community is waiting for is “never going to happen”. Keiser attached a brief video to illustrate his perspective on XRP holders. The video depicted a young bird ineffectively attempting to catch a worm, which Keiser used as a metaphor for XRP investors waiting for a rally that he believes will never materialize.
Keiser has always been a prominent Bitcoin supporter and has consistently criticized other prominent altcoins, calling them “s-coins,” and questioning their legitimacy and decentralization.
Keiser’s stance aligns with his broader support for Bitcoin maximalism, a philosophy that views Bitcoin as the only legitimate and truly decentralized cryptocurrency. This position has led him to endorse regulatory actions against altcoins, including the SEC’s efforts to classify many as unregistered securities.
Notably, Keiser is the Bitcoin advisor to El Salvador’s president Nayib Bukele, and El Salvador became the first country to adopt Bitcoin as legal tender under Bukele’s leadership. This move has drawn praise and criticism from the international community, but the majority of the crypto world sees it as a victory despite the awful actions and comments of Bitcoin maximalists.
On October 2, the SEC filed an appeal against the ruling made by federal judge Analisa Torres in its lawsuit against Ripple. This move triggered a significant downturn in the price of XRP, even as the SEC has not fully detailed its appeal.
The ongoing uncertainty surrounding this legal action continues to negatively impact XRP’s market performance, as the digital asset is trading at $0.5309. This decline discouraged investors, as XRP broke above $0.66 the weekend before the appeal, and despite a slight drop, investors were excited about the digital asset’s future.
Ripple CEO, Brad Garlinghouse, has publicly expressed his frustration with the SEC’s decision to appeal, describing it as infuriating and misguided. The company has reportedly spent over $200 million on its defense. Garlinghouse has pledged to continue the legal fight against the SEC, emphasizing Ripple’s commitment to securing a definitive victory, regardless of the time and resources required.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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