Ripple’s XRP Now Down 90% Since CNBC’s Infamous Buying Tutorial

Marco Verch / Flickr

On January 5, 2018, CNBC’s Fast Money ran a now¬†infamous segment¬†titled “Crypto Class: How To Buy Ripple,” where host Brian Kelly taught viewers how to purchase Ripple’s XRP while it was “only” a little over $2.50 per coin.

In the segment, CNBC detailed how an investor can purchase Bitcoin on Coinbase and transfer it to Poloniex, which lists XRP. While it was an informative segment for non-crypto investors to learn how to buy coins not listed on Coinbase, CNBC came under fire from the crypto community for its language that pushed XRP on investors while it sat at an all-time high.

While giving the tutorial, Kelly continuously dropped weirdly bullish comments.

I’ve bought all that Ripple Рthat’s how easy and fast it is.

Things weren’t much better for the accompanying article published that same week, which used very similar language to describe the XRP buying opportunity.

If you thought bitcoin was hot, maybe you should learn about XRP. It’s another crytocurrency that’s been rocketing in popularity lately. It was created by a company named Ripple.

Since the segment ran, XRP has dropped to $0.257, leading any investors who took Kelly’s advice¬†to lose more than 90% of their investment, if they held. While this hasn’t stopped CNBC from publishing similar segments, including some that shill of Bitcoin Cash, the crypto community now commonly uses any investment recommendation from the media group as a counter-trade signal.

Despite the massive losses, XRP is currently ranked 3rd in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.

More: How to buy XRP, one of the hottest bitcoin competitors
Similar: Weiss Ratings Sees XRP as the Ideal Base Cryptocurrency for Binance
Photo: Marco Verch / Flickr

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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