Jim Cramer, the CNBC host and TV personality, made headlines recently when he suggested that the Securities and Exchange Commission may not win its lawsuit against Ripple. After a week of positive gains, the XRP token responded to Cramer's remarks by declining 3%. Attorney John E. Deaton took to social media to call on Cramer to resume labeling XRP a scam shortly after the token suffered a 6% drop. Following Cramer's comments on the 29th of March, XRP has plummeted 14% and is down 3.45% in the last 24 hours despite the majority of the top 20 cryptocurrencies being in the green.

Cramer has encountered criticism for his predictions in the past. At the end of 2020 when Bitcoin was valued at around 17,000, Cramer expressed pessimistic sentiments towards XRP, Litecoin, and Dogecoin. However, it is worth noting that all three cryptocurrencies have experienced significant growth since then. Adding to this, he recommended purchasing shares in Signature Bank and the parent company of Silicon Valley Bank, though both ended up being poisoned investments.

These events demonstrate the precarious nature of speculation and should emphasize why investors should take every precaution when doing their own research. Cryptocurrency can be incredibly rewarding and offer phenomenal potential, but risks should not be discounted. Before creating a portfolio, it is important to read past the headline results and consider when it is and is not suitable to commit to a cryptocurrency. Doing your own research, consulting with experts, and forming an opinion based on in-depth knowledge are all integral parts of creating a successful crypto portfolio.



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