Popular Trader Peter Brandt Predicts Crash Of XRP
According to Peter Brandt, a cryptocurrency trading expert, Ripple’s XRP is currently going through a popcorn rally. Brandt, who is well known in the cryptocurrency industry notably for making a forecast that the price of Bitcoin (BTC) would crash quite terribly, thinks that XRP will not be able to maintain a good price and will eventually fall.
Brandt’s Notable Comparison
Even though XRP is presently the third largest and most popular crypto in the industry, Brandt still thinks that it will still fall way down. On his official page, he compared the asset with the process of making popcorn where it still ends up at the bottom of the pan regardless of how it initially rises up. The tweet read:
“Think about it — in a popcorn make a kernel pops to the top of the pan and falls immediately back down.”
However, another user on Twitter seemed to disagree with him, expressing his own opinion that the fallen assets can still build support for each other until they reach the top. The user who goes by the handle @galaxybtc, replied to Brandt’s tweet saying:
“Yes but a couple of “popcorn rallies” and it slowly builds a floor of popcorns (support) until the top of the pan can’t handle the pressure and you have flying corns all over the kitchen while we all getting rich.”
Other Forecasts Made By Brandt
In January 2018, he tweeted about the decline of Bitcoin via its official Twitter page. He wrote:
“General TA rule — violation of parabolic advance leads to 80%+ decline in value. If general rule is followed, BTC should retrace to <$4,000. Note: This Tweet does not make me a hater.”
Much later, he was noted for claiming that Ripple’s XRP was ‘coiling up’ which was originally thought to mean that the price would increase significantly. He however later explained that the statement did not necessarily mean that the price would shoot up but that the term really only refers to the instability of a particular asset.
Speaking on Stellar, Brandt said in another tweet that it is worthless. He tweeted:
“XLM Targets .0653, then .00150, so basically worthless. Sorry.”