Max Keiser’s remarks about the two crypto projects came at periods when XRP and Solana (SOL) were reading red on their price charts. 

“XRP, A Centralized Garbage” – Max Keiser 

Aside from speculating a potential XRP decline to $0.01, Max Keiser called XRP a centralized garbage. In his exact wordings, the Bitcoin maximalist noted, “Centralized garbage going to $0.01.”

Centralized garbage going to $0.01 pic.twitter.com/mDQ0PPBgWi

— Max Keiser (@maxkeiser) January 19, 2024

Max’s tweet had an XRP chart, which showed its price as of January 19, 2024, to be approximately $0.53. So, if XRP dips to $0.01 as he predicted, it invariably implies about a 98% decline from the present price of the embattled crypto asset.

It is not the first time Max has come out to ridicule XRP. We once reported that the Bitcoin maximalist called XRP a Sh*t coin. Aside from that, he is notorious for always seeking means to prove that XRP is a centralized project. 

Max Reiterates Rug Pull Narrative About Solana (SOL) 

Quoting a previous tweet where he noted that the rug pull has begun, Max shared another tweet on January 3, 2024, with a Solana (SOL) price chart indicating the coin’s drop by 15.8% within 24 hours.

In the new tweet, the Bitcoin advisor remarked that he envisages SOL’s potential drop to the $20 region. Based on Solana’s price on January 3, the coin must decline by relatively 79% for the price projection to happen.

Meanwhile, following the recent drops in crypto prices, one might be tempted to want to believe Max’s claims about the two cryptocurrencies.

Per XRP’s data on CoinGecko, the sixth-largest crypto asset is priced at about $0.52, reflecting a 2.7% decline in the last 24 hours. The past week and month saw XRP record declines of about 10.3% and 16.3%, respectively.

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On the other hand, Solana’s data on CoinGecko revealed its price to be $83.91, reflecting a 2% drop in the past 24 hours. The past week and month saw SOL dropped by about 15.8% and 25.2%, respectively.

The above XRP and Solana’s data have revealed considerable findings about the struggling crypto assets. It is left to see if they would keep declining up to the point predicted by Max. 

In all, Bitcoin (BTC) did not escape the blood bath that has ravaged the crypto market. While selling presently at roughly $39,755, it is down by 7.1% last week and 7.8% from the past month.

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Keiser made his case on X, sharing a screenshot of the patent paper from 1991. While this document had no explicit connection to digital assets, it did feature the name of David Schwartz, Ripple’s Chief Technology Officer, as one of the inventors.

Read Also: SEC Aims to Kill XRP, Not about Law –Bitcoin Maxi Max Keiser Claims

Keiser used this detail to support his argument, stating, “XRP is CENTRALIZED s***, as you can plainly see from the patent.”

XRP is CENTRALIZED s*** as you can plainly see from the patent. https://t.co/6OolWXh28L pic.twitter.com/TVfk1MWbg8

— Max Keiser (@maxkeiser) September 24, 2023

Backlashes from XRP Community

Unsurprisingly, Keiser’s assertion didn’t sit well with the XRP community. One user called Kesier “confused as usual.”

Former software engineer at Ripple, Matt Hamilton, pointed out that the patent had no direct relevance to XRP, particularly given its age. The patent is 32 years old, while XRP itself is only 12 years old. Hamilton questioned Keiser’s integrity, asking, “Why be so dishonest if you had actual legitimate points?”

Prominent voices within the XRP community also joined to criticize Keiser’s sentiment. XRPcryptowolf asked what the patent had to do with XRP. He argued that Bitcoin maximalists would go to great lengths to advance their divisive viewpoints.

Another XRP supporter emphasized that the patent’s abstract explicitly stated its focus on distributing computer processes across multiple computers, with no mention of cryptocurrencies.

However, Kesier has his supporters in this argument. One user asked him to keep going and called everyone with opposing views “cry babies” who were trying to attack Kesier.

Read Also: Technically, XRP is a Security: Popular American Broadcaster Max Keiser

MetaMan countered the centralization claim by comparing XRP to Bitcoin. MetaMan argued that if Keiser’s centralization concern arose from founders allocating a significant amount of the token to themselves, then Bitcoin was guilty of the same, seeing that Satoshi Nakamoto, Bitcoin’s anonymous founder, holds 1.1 million BTC.

The similarity is also clear because Ripple’s CEO expects XRP to become the next Bitcoin if a million-dollar problem can be solved. Kesier didn’t bother to defend his point, instead, he replied with, “Cringe.”

Another user replied, stating that MetaMan was telling the truth. They highlighted that wealthier users with better computers mined most of the supply. He also pointed to the Mt.Gox hack from 2014, asking how many people knew about Bitcoin before then and how many people lost their BTC because of Mt.Gox.

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In a recent tweet about the lawsuit, Keiser argued that SEC Chair Gary Gensler is eager to abolish XRP and that the lawsuit was never about the law.

Keiser further stated that El Salvador’s recent decision to recognize Bitcoin as a legal tender demonstrates that the government is taking significant steps to abolish all other unregistered securities.

As I keep telling you guys, the SEC swept away the independent ‘crypto’ exchanges & players, to make room for BlackRock, Wisdom Tree, Fidelity, etc. to get into #Bitcoin

XRP ain’t gonna win their case. This was never about the law. XRP was marked for death and Gary’s job is to…

— Max Keiser, sr. bitcoin advisor pres. Bukele (@maxkeiser) June 21, 2023

Read Also: Technically, XRP is a Security: Popular American Broadcaster Max Keiser

Keiser also commented on ongoing efforts by firms such as WisdomTree to develop spot Bitcoin exchange-traded funds (ETFs).

The SEC’s recent enforcement measures against independent players and crypto exchanges, according to Keiser, were intended to pave the way for BlackRock and WisdomTree to enter the Bitcoin industry. It’s worth mentioning that Keiser has previously slammed the diminishing popularity of cryptocurrencies, including XRP, calling them “sh*tcoins.”

Keiser’s repeated attacks on XRP have elicited comments from XRP supporters, with pro-XRP lawyer John Deaton agreeing with Keiser that the SEC is biased in favor of incumbents and the current quo. While Keiser expects that Ripple will lose the lawsuit, some of the XRP community remain optimistic about a possible outcome.

Keiser Urges Investors to Favor Bitcoin Over Altcoins

Keiser has continuously urged crypto investors to adopt Bitcoin rather than altcoins, in addition to his remarks on the Ripple case and WisdomTree’s ETF application. He has referred to altcoins as “sh*tcoins” and securities, implying that he believes they are worth less than Bitcoin. Keiser argues that Bitcoin’s status as the most popular cryptocurrency, along with its restricted supply, makes it a better long-term investment opportunity.

Read Also: BTC Adviser to El Salvador President Shares His Opinion on XRP Security Status, Crypto Community Reacts

XRP Community Responds

Despite Max Keiser’s harsh comments regarding XRP, many XRP supporters continue to support the cryptocurrency and are optimistic about the result of the SEC lawsuit. Members of the XRP community have challenged Keiser’s views on cryptocurrency and his focus on Bitcoin.

They contend that the case against Ripple is convoluted and that XRP is not definitely “marked for death.” They feel that XRP has real-world utility and that Keiser and others in the Bitcoin community have overestimated its potential. Despite these complaints, the XRP community is optimistic that the pending case will result in a favorable outcome.

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In response to a tweet describing why XRP should not be a security, Max wrote, “Where I live, #ElSalvador, anything *Not* #Bitcoin is a security; this would include XRP.”

Where I live, #ElSalvador, anything *Not* #Bitcoin is a security. This would include XRP. https://t.co/JUVjXSZERr

— Max Keiser, sr. bitcoin advisor pres. Bukele (@maxkeiser) May 23, 2023

Read Also: Ripple CEO Brad Garlinghouse Defends XRP Against Securities Allegations, Slams Critics

Max emphasized in his tweet that El Salvador only recognizes BTC as a non-security asset, while other cryptocurrencies like XRP are regarded as securities.

Max Keiser Says XRP is a Sh*tcoin

Max Keiser is Bitcoin’s adviser to El Salvador’s President. In previous news, Max claimed that the SEC is correct in its claims on XRP being a security asset. Max’s antics didn’t go down well with the XRP community as he faced several backlashes.

However, in a recent turnout of events, Max does not seem disturbed about what the XRP community members think of him. Apart from the tweet reiterating El Salvador’s position on security and non-security crypto assets, Max already tagged XRP as a sh*tcoin. “This is the legal position in El Salvador. XRP is as a sh*tcoin,” Max stated.

Read Also: Based on Ripple CTO’s Assumed ATH, Analyst Predicts $27 XRP Price. Here’s the Timeline

Sh*tcoin is a derogatory statement in the crypto space which describes a cryptocurrency with poor utility, market presence, and technology. Sh*tcoins could also come with fraudulent motives.

Meanwhile, based on speculations, we suspect that Max’s latest outbursts may be due to the statement from Ripple’s Chief Technology Officer (CTO), David Schwartz, which appears to launch an attack on SEC’s stance in the ongoing legal battle against Ripple, stating that “If the SEC’s legal position means all tokens but Bitcoin are securities, then the stakes are whether U.S. persons can participate legally in everything else in the crypto space.”

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According to Max in a recent tweet, the SEC is correct to maintain that most crypto projects that include XRP, Ethereum, Litecoin, etc, are securities, hence the need to register with the regulator. The Bitcoin adviser to El Salvador’s president maintained that only Bitcoin satisfies the requirements of a non-security asset.

Read Also: Flare (FLR) Announces New Batch of Airdrop Available to Claim for XRP Holders: Details

Going further, Max encouraged the U.S. SEC chairman to come on vacation to El Salvador to understand how the country grew into one of the top leading BTC nations.

Gary’s right.

Everything not #Bitcoin is a security (including ETH & XRP).

We already put this into law in #ElSalvador

We’re #Bitcoin Country and we’re thriving.

I invite @GaryGensler to to come and see how we became the leading #BTC country in the world. https://t.co/yfB0vHAsuj

— Max Keiser, sr. bitcoin advisor pres. Bukele (@maxkeiser) May 16, 2023

Gensler Criticizes Crypto Enterprises

In a recently organized questions and answers session, The SEC chairman, Gensler, criticized crypto companies for failing to comply with laid securities principles. Per Gensler, the crypto space is built on a false decentralization narrative. Speaking further, the SEC chairman maintained that every other cryptocurrency apart from BTC is security.

Meanwhile, crypto firms have called on the SEC to establish better rules that suit the crypto market activities. In response to the call, Gensler maintained that the crypto market does not require modifications of existing security rules to function effectively. Gensler’s stance didn’t go well with top crypto chiefs, especially Ripple’s CEO, Garlinghouse, who tackled the SEC chairman over his regulatory approach for the crypto sphere.

Read Also: BitBoy’s Suggested Amount Required to Become XRP Millionaire Implies a $6.7 Price Rally

Reactions From XRP Community As Keiser Shades Ripple

Keiser, an outspoken Bitcoin maximalist, blasted Ripple for reportedly moving into the crypto custody market. Kaiser asserted it is fraudulent to sell XRP without prior security registration. In addition, the outspoken BTC maximalist stated that the SEC was right to ban XRP in the United States.

Many XRP enthusiasts have taken to their Twitter handles to fire back at Keiser for his statements about XRP. Me Huber, a renowned XRP lover, pointed out that Judge Analisa Torres will not make it easy for the SEC to have its way against Ripple. Huber referred to one of Judge Torres’s latest rulings that made it impossible to seal the documents related to Ripple’s XRP sales to On-Demand Liquidity (ODL) customers.

As Keiser claimed that every other coin except Bitcoin is a security, Tony Edward, Thinking Crypto Podcast Founder & Host, said, “Stay off the drugs Max. You are on the wrong side of history. Gensler is not your friend, have you asked yourself why he hasn’t approved a BTC spot etf but did approve a futures and short etf?”

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As the XRP lawsuit persists, many crypto proponents, top United States attorneys, and personalities have continued to show solidarity for Ripple, as they firmly believe XRP is not a security. 

Contrariwise, the popular Bitcoin (BTC) maximalist and American broadcaster Max Keiser, stands with the U.S. SEC on the XRP matter and goes on to throw shades at the XRP Ledger native token. 

Replying to a Wednesday tweet made by a certain user Rio, about the currently 6th largest crypto by market capitalization, Max Keiser reiterated that XRP is security.  

While Rio opined that XRP isn’t a crypto, but a digital asset, Keiser commented, saying, “technically, XRP is a security.”

Technically, XRP is a security. https://t.co/4bjAm4XG8e

— Max Keiser (@maxkeiser) December 14, 2022

Related: Cardano Founder States What Would Happen if the SEC Tags ADA a Security

Increasing Attack on XRP

In a previous scenario, the widely followed American broadcaster spoke in the exact tone as Michael Saylor, the founder of the largest-known institutional holder of Bitcoin Microstrategy, when he tweeted, “good-bye XRP & ETH” on Tuesday. 

This comment by Max Keiser came in reaction to an update that the SEC Chair Gary Gensler is ready to attack crypto companies violating the United States Securities Laws. 

Read Also: XRP Expected To Rally As Whales’ Accumulation Heightens: Santiment Insights

As previously reported by TimesTabloid, John Deaton, the attorney representing over 75,000 XRP holders in the ongoing Ripple-SEC case disclosed Gensler’s next move, citing that it could trigger another 50% market crash. 

It is worth noting that Microstrategy’s Michael Saylor is among those insinuating that XRP is a security. In a recent podcast session, Saylor urged U.S. regulators to shut down Ripple on the claims that XRP, ETH, and all other altcoins are unregistered securities and unethical.

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