Ripple’s XRP Collapse Is Imminent, Warns Renowned Trader Peter Brandt

Ripple’s XRP Collapse Is Imminent, Warns Renowned Trader Peter Brandt
ôîòî ïîêàçàíî ñ : zycrypto.com

2020-6-6 13:30

The XRP community has been lamenting about the crypto’s price for some time now and the recent development where Tether outdid XRP in market valuation doesn’t seem to help. In fact, some big shots in the crypto space have been opposed to the currently 4th largest coin in the market. One of these people is Peter Brandt.

Besides being a well-known commodity trader peter is also the publisher of Factor Report and has been studying and analyzing market trading charts since 1980. In a recent twitter post, Peter Brandt went all out against XRP while responding to a comment.

Peter’s post started as a straight comparison between NASDAQ and Nikkei. He sought to understand whether NASDAQ is poised to trace Nikkei’s chart or whether it will top and then collapse. Granted, that’s an understandable query coming from an avid chart enthusiast. Peter even went on to provide a chart in a effort to visualize his sentiments. 

XRP: Scam?

However, one of the commenters seemed to be more interested in introducing crypto bosh. On their part, the commenter wanted Peter to explain why XRP hasn’t dropped to the lows of $0.000000013, to which Peter responded by flatly saying XRP is just a manipulated scam and that the price will eventually fall to that level.

Patience please. It will come. $xrp is manipulated scam

— Peter Brandt (@PeterLBrandt) June 4, 2020

In his opinion, all people have to do is wait and witness the eventual crash of XRP. Granted, that sentiment warranted varying responses from various personages.

…But Big Institutions Are Into Ripple’s Tech

Most notable is one of the commenters who pointed out that big entities like Santander, Microsoft, SBI, and Google have joined Ripple.

By this, the commenter meant that since Ripple is principally behind XRP, such big entities with great market analysts wouldn’t be inclined to join Ripple in such ventures especially since Ripple has been drumming up support for XRP through such partnerships.

If indeed XRP was destined to collapse, such big companies would obviously want to stay away from Ripple and its XRP-focused ventures.

The XRP Price Issue

Notably, XRP has had its problems especially in regard to its price. Many feel that Ripple’s monthly XRP releases into the market play a big part in suppressing the crypto’s price, and that doesn’t make anyone felicitous.

On the other hand, some ardent XRP supporters have held fast onto the notion that with big entities joining Ripple, it’s only a matter of time before XRP is largely adopted, and that will make it seriously pricy. 

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