Bitcoin
Legendary Trader Peter Brandt Says XRP Appears to Be Heading to Zero Against Bitcoin (BTC) – Here’s Why
Veteran trader Peter Brandt thinks XRP could plummet in value relative to Bitcoin (Bitcoin) as the pair approaches historic lows.
Brandt it says its 728,900 followers on social media platform X that the XRP/BTC pair is at risk of moving below its long-term low.
According to the experienced trader, the target for range breakdown based on classical charting principles is 0.0000002 BTC ($0.013).
“From a purely classical charting point of view (i.e. Schabacker, Edwards, Magee), this chart appears to be heading towards zero…
It’s actually fun to poke XRP_aholics. My comparison is to BTC, not USD, so here’s what I don’t understand. How can XRP bulls be so insistent that XRP is close to ATLs versus BTC and in fact has only closed above current levels in six of the last 126 months?
People so arrogant about an asset class (XRP vs BTC) should have a little more play on their pathetic side before being too critical.”
Source: Peter Brandt/X
Brandt acknowledges the possibility that XRP has more upside potential than BTC for the remainder of the current market cycle, but it says the “burden of proof” falls on the payments altcoin.
“Very possible. But the burden of proof is on XRP, not BTC. And if the move is now on alts, why not something other than XRP?”
Brandt was rude in the XRP/BTC pair since at least 2017.
BTC is trading at $62,834 at the time of writing. The top-ranked crypto asset by market cap is up nearly 3% in the last 24 hours.
XRP is trading at $0.504 at the time of writing. The 7th-ranked crypto asset by market cap is up nearly 1% in the last 24 hours.
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