The SEC is unlikely to stop with Ripple and XPR, but other cryptocurrencies like Stellar and Cardano will also be prone to being sued.
XRP of Ripple and other junk cryptocurrencies will be destroyed
Earlier this week, the SEC released official charges against Ripple, accusing the payment processor of carrying out an unregistered security supply of $ 1.3 billion. While the company’s legal team and CEO asserted that the allegations were false and Ripple would eventually win, the adverse effects were apparent.
The fees imposed by the Securities and Exchange Commission on Ripple have started to have an adverse impact on the company and the native token XRP. With the price of XRP plummeting in the past few days and several exchanges delisting assets, Max Keizer asserted that Ripple is the first of many to fall and the action of the SEC will ultimately benefit. bitcoin.
XRP has plummeted from $ 0.65 to $ 0.21 over a few days, and although it has managed to bounce back to $ 0.35 today, it is still down a sizable chunk. This asset has lost its position as the third largest cryptocurrency to Tether. Some exchanges and industry companies have delisted, while others are actively discussing this possibility.
However, it seems that the negative effects have also spread to most other altcoins. The market has seen multiple double-digit price drops from alts, while BTC remains north of $ 23,000. As a result, bitcoin’s dominance has increased over the past few days to around 68%.
Despite the massive price drop of XRP, popular TV host Max Keizer recently predicted that this token could crash another 99% from here.
It can crash another 99% from here… ??? pic.twitter.com/XZFrMUbTS3
— Max Keiser (@maxkeiser) December 23, 2020
Keizer emphasizes BTC’s growing dominance. However, he said that the market has been adjusted for scams, Bitcoin dominance has been at 95%.
He affirmed:
“The SEC works as Bitcoin’s drone, and it will continue going after other garbage coins such as Stellar, Cardano, and more.”
Once BTC is done converting the willing and destroying the wicked, the cryptocurrency will turn its attention to the central banks, some of which will blow up causing huge disruptions, but no one who has followed bitcoin will be surprised. Ultimately, Keiser said that Bitcoin is voraciously destroying anything that gets in its way. Bitcoin changes you. You don’t change Bitcoin.
Read more:
- XRP Price Up 25% After SEC Has A New Boss
- Ripple Is Not The Only Crypto Company Sued By The SEC In Recent Years, Here Are Some Of The Others