Peter Brandt, a seasoned trader with 50 years of experience, has made a bold claim that XRP will eventually reach zero when compared to Bitcoin. Brandt recently shared a chart showing XRP’s price performance against Bitcoin, indicating a consistent downtrend over the years, with more significant declines in recent months. This observation aligns with the fact that Bitcoin has seen a 43% increase in value this year, while XRP has lost over 20%. The current value of XRP/BTC stands at 0.00000808, which represents a 44% decrease from January’s value of 0.00001457. Based on classical charting analysis, Brandt predicts that XRP’s decline will continue until it reaches zero.
Unsurprisingly, Brandt’s statement has stirred a response from XRP enthusiasts who disagree with his viewpoint. Some argue that XRP is currently at a support level and may experience a significant recovery in the future. Additionally, critics have pointed out that Brandt made a similar prediction in 2017, labeling XRP as a “crap” and “Shitcoin,” before it experienced an impressive surge and reached an all-time high.
Brandt, in response, clarified that his prediction of XRP approaching zero was specific to its performance against Bitcoin, not its USD value. He questioned the optimism of XRP supporters, considering the asset’s consistent underperformance over time. In contrast, Bitcoin recently achieved a new all-time high, while XRP has only closed above its current levels in 6 out of the past 126 months. Nonetheless, some optimists in the XRP community believe that history may repeat itself, with XRP eventually outperforming in the current bull market.