Analyst Peter Brandt Calls XRP is a Manipulated Market and A Dead End

Umme Haani
Umme Haani is a writer for Thecoinrepublic. she contributes a researched piece on cryptocurrencies and updates. Umme is an aspiring engineer who immensely enjoys writing and technical writing brings the best of both worlds under one roof for her.
  • The founder and CEO of a renowned global trading firm Factor LLC, Peter Brandt labels XRP as an outright scam.
  • Peter Brandt, being a renowned name in the commodity trading business and crypto space also believes that the ripple’s value might also hit a virtual zero.

The founder and CEO of a renowned global trading firm Factor LLC, Peter Brandt labels XRP as an outright scam. Brandt has been a critic of XRP and Chainlink for long. However, he recently dismissed a recent bullish chart to which he was branded as a big nothing. However, he debated that the Chainlink was only taking up investors who have been let down by XRP.

Peter Brandt, being a renowned name in the commodity trading business and crypto space also believes that the XRP value might also hit a virtual zero. And this may prompt the people to buy at that state.

Peter Brandt is all over again jab holes into Ripple’s token. He has marked the token as a scam that keeps losing its community members. Alongside the loss of investors to the Chainlink (LINK), a comparatively new digital asset, at this time.

XRP is A Dead End

At this point, he is proved to be a big-time critic for XRP community. Experts including Peter Brandt claim that Considering a day of massive price movements in the crypto markets, XRP is indicating the bearish behaviour in its growth in the near future. He also added that if the altcoin closes above $0.3038 it would be a bearish indicator with an initial target of $0.4691. He also claims through his charts that the ripple’s token is consistently crashing since the past few months which might result in the lack of liquidity.

Peter Brandt also proposed that the XRP ledger has descended and the asset is entering into the implicating prices which will fall quite soon. Manipulating markets which will result in the loss of investors.

Although, many of his followers commented and seem to have a disagreement on his tweets, while some of them seem to be agreed to his predictions.

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