Veteran analyst Peter Brandt despises ‘XRP’s Bag Holder,’ compares Ripple to the Fed

Veteran trader Peter Brandt beat out the XRP digital currency on Thursday and pitted crypto token firm Ripple against the US Federal Reserve. Brandt said he believes the company behind the coin will double the supply of tokens, and doesn’t understand why “otherwise smart people” have been drinking “XRP-Kool-aide”.

A number of digital currency investors believe that XRP, the fourth largest crypto asset by market capitalization, will be the bridge between banks and cryptocurrency. A number of other cryptocurrency enthusiasts despise XRP and think the distributed ledger is extremely centralized.

Despite the technical data, XRP has a circulating supply of 44 billion tokens each worth $ 0.20. The token’s value is much higher than in the first five years of its existence, when it was traded for less than a US penny during much of that time.

On July 23, the veteran trader Peter Brandt discussed XRP with a number of digital currency enthusiasts. Brandt is a well-known trader who regularly shares financial analysis and charts on Twitter. He made a number of predictions and the analyst now has over 364,000 followers on Twitter.

Many cryptocurrency enthusiasts follow Brandt because he is bullish on ethereum (ETH) and bitcoin (BTC) and on July 8, the veteran trader She said there was a “significant shift in ETH-BTC”. Brandt further noted that “most of the alt should earn on bitcoin in [the] near future. “Adamant Capital founder Tuur Demeester also seemed to agree with Brandt’s rating.

The discussion that took place Thursday on Twitter was about the crypto asset XRP, as a person conversing on “XRP Army shillings” and on some commercial techniques. Brandt joined the conversation and his comment on XRP compared the crypto-asset to the US dollar and compared the Ripple company to the US Federal Reserve.

“XRP can be compared to the USD,” tweeted Brandt. “The Fed is the holder of the USD exchange: they can double the offer if they want.” The financial analyst further wrote:

Ripple is XRP’s carrier and will double the supply. I can’t believe the number of otherwise smart people who have drunk XRP Kool-aide.

Of course, members of the XRP military didn’t care about Brandt’s comments after they knocked out the crypto asset and company Ripple. One person claimed that lack of knowledge of Brandt’s code meant his opinion had to be rejected.

“Do you know anything about the code?” asked a Twitter account clearly shocked by Brandt’s XRP comment. “It just isn’t possible. It is a pity that an incapable person has so many followers. “

After being harassed by the XRP military for his recent statements, Brandt has further criticized the followers of the cryptocurrency. “Some things never change: I remember the anger I got when I said that caps, hula hoops and pet stones would not become a global resource. Some neighbors haven’t talked to me for years, ”Brandt he answered. The financial analyst continued tweeting:

They get so nervous because deep down they know I’m right. They are the most rabbis of all cultists.

At the time of writing, XRP is trading for $ 0.203 per coin and has fallen 1.3% over the past 24 hours of trading. The last 30 days show that XRP has increased by 11.42%, 90 days the token has increased by 8.6%, but for the year the coin has fallen by 34%.

Not long ago XRP was a strong contender for cryptocurrencies, but since tether (USDT) has started to shine brightly, the token has lost significant momentum. Tether has overtaken XRP for the size of its market cap and USDT sees a hell of a lot more deals these days.

What do you think of Peter Brandt comparing XRP to the US dollar and the Fed? Let us know what you think about this topic in the comments section below.

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