Peter Brandt: XRP from Ripple is a manipulative scam, no more

06/05/2020

Alex Kondratyuk

Legendary Trader &tech analyst Peter Brandt stayed truenegative outlook regarding the prospects for the XRP token from Ripple. In response to the sarcasm of one of the followers, he urged to remain calm, adding words about "manipulated scam".

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Brandt is not the first time talking about the inevitablezeroing of the fourth largest cryptocurrency by capitalization. A month ago, he argued that the issuer of the coin is holding quotes in the 23-24 satoshi range as the last frontier. But it will inevitably fall, which will send the price to 11 satoshi.

The trader calls buying XRP a “bad deal”. The value of the coin has been declining since October 2019 and by now has lost almost 45% of its value relative to BTC. In dollar terms, the coin is valued at 20.23 cents. Recently, stablecoin Tether has displaced XRP from the third line of the CoinMarketCap ranking.

Recently, Ripple CTO David Schwartz denied the speculation about the beginning of the development of a stablecoin based on the blockchain project.

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We will remind, recently the head of Galaxy Digital Mike Novogratz said that XRP will face a difficult year.