Emily Walker
In a surprising change of perspective, Peter Brandt, a well-respected technical analyst and trader, has praised XRP, labeling it the top performer among cryptocurrencies. He shared a daily XRP/USD chart on X (formerly Twitter) this past Sunday, calling it the “Leader of the pack.”
Brandt highlighted the importance of actual market positions over predictions, stating, “I posted a chart last week predicting it. Predictions are worthless; real positions are what truly matter.” This emphasis reflects his belief that holding assets is far more critical than speculating.
Brandt Reaches Out to the XRP Community
Brandt’s favorable comments on XRP followed an essential technical analysis shared last week, showcasing a potential “half mast flag” pattern. He cautioned that such patterns need to resolve within six weeks and expressed concern if they don’t:
“Half mast flags need to complete in six weeks; otherwise, they should be treated with caution. This flag in XRP needs to show movement soon, or it could change into something different. However, if it completes, a market cap of $500 billion is possible.”
According to Brandt, confirming this half mast flag could lead to XRP tripling in value shortly after. At the time of his statement, XRP’s market cap was around $138 billion, indicating potential for significant growth if it reached a $500 billion valuation.
Brandt noted a visible breakout from this flagged pattern recently, which—if confirmed—supports his earlier predictions.
Once a vocal critic of XRP, Brandt surprised many in the community on Sunday by extending what he referred to as an “olive branch” to XRP holders. Acknowledging his past critiques, he explained that his previous skepticism was rooted in a desire to protect his trading capital:
“I have criticized you and XRP over the years, and I acknowledge my harshness. I take pleasure in your recent success. I find joy when other traders achieve success. However, I question the mindset of defending an asset that experiences significant declines.”
He reiterated that traders must prioritize capital preservation, especially when facing assets he believes have a history of drastic downward shifts compared to Bitcoin, which he views as the benchmark for wealth preservation. Brandt reminisced about his early days as a trader in 1981, underscoring the necessity of safeguarding capital:
“XRP has seen losses ranging from 80% to 97% against BTC, which I call the standard for ‘store of wealth.’ Holding a speculative asset that loses 90% compared to a stable asset is unwise. My strategy focuses on cutting losses swiftly and allowing profitable trades to thrive. I firmly believe that consistently losing 80% or more against a more stable asset is not a sensible approach to wealth accumulation.”
Nevertheless, he clarified his critique was aimed at what he termed “dogmatic and irritating” defenses of XRP amid severe downturns, rather than the personal journeys of community members. He concluded his message by stating:
“If you accept my olive branch, I appreciate your kindness. If you respond negatively, that’s your choice. Rest assured, I won’t post about XRP again. I wish you well with this asset.”
Currently, XRP is trading at $2.45.
