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This is what the XRP price for Bitcoin looks like, warns Peter Brandt
Cover image via Youtube
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Veteran trader Peter Brandt offered a sobering assessment of XRP’s price movement in relation to Bitcoin (BTC), based on classical graphic principles. Brandt, known for his in-depth market analysis, suggests that XRP’s chart pattern resembles a downward trajectory, potentially headed towards zero. The graph shared by Brandt appears The price of XRP against Bitcoin, currently at 0.0000084 BTC, its lowest point in recent times.
Brandt’s analysis suggests a critical examination of the optimism surrounding XRP, particularly when compared to Bitcoin. He notices it XRP it has closed above current levels in only six of the past 126 months, indicating a prolonged period of underperformance.
As for the possibility of XRP overtaking BTC in the future, Brandt acknowledges the possibility, but stresses that the burden of proof is on XRP. He suggests that investors exploring alternative cryptocurrencies may find more promising opportunities than XRP.
Brandt’s cautionary remarks reflect the challenges XRP faces in a market landscape dominated by Bitcoin and a multitude of competing altcoins.
Brandt’s remarks add to the ongoing discussion about XRP’s price trajectory, prompting investors to question the sustainability of its current levels. How XRP will fare Bitcoin in the next months? Is there potential for a reversal of its downward trend?
XRP, being one of the largest and most popular coins, remains in the spotlight of cryptocurrency market participants. However, what this will mean for its price and consequently investors’ portfolios is a big question.