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In an interview on CNBC’s Squawk Box, the famous television personality and CNBC host, Jim Cramer, showed his negative approach over three cryptocurrencies. These currencies are $XRP, Litecoin ($LTC), and Dogecoin ($DOGE).
Jim Cramer is “Negative” on Crypto
“I think you should be negative on #crypto. I’m negative on $XRP, $LTC, and $DOGE because I haven’t been able to find anyone that takes them,” says Jim Cramer. “It’s like $80 billion worth of non-Bitcoin that’s destined to be wiped out.”
He said these cryptocurrencies are among the altcoins that are about to be “wiped out”. Even the overall crypto market are in bearish phase at where identifying the future of these three assets in particular have no future.
According to a CNBC report on this Friday, Jim Cramer found three industrial stocks for 2023 which he prefers to own. The stocks are Caterpillar (CAT:NYSE), Illinois Tool Works (ITW:NYSE) and railroad operator CSX Corp (CSX:NASDAQ).
Mr. Cramer also looked forward to upcoming week’s earnings and economic data report that will give fresh insights. As Mr. Cramer said on CNBC’s episode of “Mad Money,” “We want the Fed to talk a big game, without needing to actually do too much. Talk is better than action. We want [Fed Chair Jerome Powell] to scare the economy into slowing under its own weight. We don’t want endless rate hikes … that will destroy everything in its path.”
Let’s take a look over the one month performance of $XRP, $LTC, and $DOGE:
$XRP
In a month, the cryptocurrency is down about 6.8% from the price of $0.380 to its current trading price at $0.354. In the last 24 hours the token is down 0.61% with a current market cap of $17.82 Billion.
$LTC
Litecoin or $LTC also fell about 4.14% in a month from the price of $62.70 to its current trading price at $65.30. In the last 24 hours the token is down 2.38% with a current market cap of $4.69 Billion.
$DOGE
The popular meme coin, Dogecoin also noted the fall of about 8.13% in one month. The current price of $DOGE is $0.079 while the token is down 2.40% with the current market cap of $10.55 Billion.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
