Last week, CNBC host and TV personality Jim Cramer commented that the Securities and Exchange Commission (SEC) “might not win” the lawsuit against Ripple, and after a week of strong gains, Cramer’s video went viral. The XRP token fell 3% immediately after going viral. .
In response, Attorney John E. Deaton share His thoughts on Cramer’s remarks about crypto market movements, and XRP in particular, are on March 30th, in a tweet calling on hosts to go back to calling the token a “scam.”
“That was the exact moment when the price of XRP stopped rising and turned 180. [when] Jim Cramer said Ripple might win. Jimmy Chill, can you call me a fraud?”
At the time of Deaton’s tweet, XRP was down 6% after a massive bullish rally, rising 26% over the past seven days. Since Cramer’s comment on March 29, XRP has plummeted more than 14% from a high of $0.579 when it “turned 180” to $0.496 on April 4, removing more than $4 billion from its market cap over the period. Cleaned up.
The token is down 3.45% over the past 24 hours, despite the majority of the top 20 cryptocurrencies by market cap currently trading green.
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It’s worth highlighting that Cramer has been criticized on social media for his somewhat dubious investment forecasts.
Specifically, he expressed his negative feelings towards XRP, Litecoin and Dogecoin towards the end of 2022 when Bitcoin was valued at around $17,000. However, it’s worth noting that these three cryptocurrencies have risen significantly in value since Cramer expressed his skepticism.
In addition, he advised viewers to buy shares in Silicon Valley Bank’s parent company just weeks before the SVB implosion that sparked the banking crisis, and a year earlier he had invested in another failed lender. advertised Signature Bank.
Disclaimer: The content of this site should not be considered investment advice. Investing is speculation. Your capital is at risk when you invest.
