Professional Trader Peter Brandt: Bitcoin’s (BTC) and (BCH) Better Investments Than Ripple (XRP)
Popular crypto trader and author Peter Brandt recently took to Twitter to say that he saw much more value in currencies like Bitcoin [BTC], Bitcoin Cash [BCH], Monero [XMR] and Litecoin [LTC], when compared to XRP — primarily because he believes that Ripple's XRP is extremely susceptible to the whims and fancies of various price manipulators.
Live Ripple (XRP) Price:
1 XRP/USD =$0.2464 change ~ 2.46%
On the matter, Brandt issued the following message online:
“$XRP – the manipulators have successfully defended crucial support levels. But with my $$ I would much rather own $BTC, $BCH and $XMR Though $LTC is the real winner among macro caps”
As many of our regular readers may be well aware of, Brandt has time and again taken on various members of the XRP community — particularly on matters related to price manipulation, a technique which he believes many XRP backers use to hold the price of the cryptocurrency at certain support levels.
Additionally, he also went as far as saying that if the ongoing “manipulation-based support failed” to carry XRP, the currency would crumble and fall amidst widespread market panic.
$XRP – the manipulators have successfully defended crucial support levels. But with my $$ I would much rather own $BTC, $BCH and $XMR Though $LTC is the real winner among macro caps pic.twitter.com/SiipSqxJ39
— Peter Brandt (@PeterLBrandt) April 3, 2019
As can be seen from the technical charts presented by Brandt above, XRP seems to currently be stuck in a “massive descending triangle” — an indicator which usually shows that a particular currency is heading towards a bearish winter.
To be a bit more specific, we can also see that “descending triangles” are most commonly established when “an uptrend reaches its peak and the price of a commodity starts to fall”.
Other Details Worth Pointing Out
As soon as Brandt released the aforementioned tweet, a number of XRP backers started to slight the analyst’s prediction and said that despite the alt-token moving from its long-standing support level (post the recent rally), it still had enough momentum to sustain its value in the near future.
For example, Twitter user ‘MrLevelUp’ was quoted as saying:
“Can we get some love from you? When are you coming to our family? You know we got the best family in crypto right? Come on Peter, let us create a banner for you brother”
In closing out this piece, it should be mentioned that a lot of FUD related to XRP has surrounded the altcoin since its very inception. For example, over the past 6-12 months the SEC has provided a very vague regulatory clarification in regards to the currency which has caused many from within the crypto sector to believe that the asset is a “security” — thereby causing more confusion amongst the investor community in regards to the token.
Live Bitcoin (BTC) Price:
1 BTC/USD =$51,515.3293 change ~ 4.60%