Renowned trader Peter Brandt has made a bold prediction, stating that XRP will eventually reach a value of zero in relation to Bitcoin. Brandt recently shared a chart on X that shows XRP’s price compared to Bitcoin over the long term. The chart reveals a consistent downward trend, with more significant declines in recent months. This indicates that XRP has been underperforming in comparison to Bitcoin.
This observation is further supported by the fact that Bitcoin has seen a 43% increase in value so far this year, despite its recent bearish performance. In contrast, XRP has lost over 20% of its value during the same period.
Currently, the value of XRP in relation to Bitcoin stands at 0.00000808, a decrease of over 44% from its January value of 0.00001457. Based on this underperformance, Brandt suggests that the XRP/BTC chart is trending towards zero.
Unsurprisingly, Brandt’s prediction has unsettled many XRP enthusiasts, who have voiced their disagreement. They argue that Brandt has made similar claims in the past and point out that XRP is currently at a support level, indicating the potential for a significant recovery.
One commenter even recalled Brandt’s previous remarks in November 2017 when he described XRP as “crap” and “Shitcoin,” highlighting XRP’s subsequent dramatic surge in value. XRP experienced a remarkable 1,418% increase, reaching an all-time high of $3.84 less than two months after Brandt’s bearish statement.
Optimistic members of the XRP community believe that history could repeat itself in the current bull market, where XRP is currently underperforming.
In a clarification, Brandt emphasized that his prediction of XRP approaching zero was specifically in relation to its performance against Bitcoin, not its value in USD. He questioned why XRP advocates remain steadfast despite the asset nearing all-time lows.
In contrast, Bitcoin has recently reached a new all-time high. Brandt also pointed out that XRP has only closed above its current levels in 6 out of the past 126 months, further challenging the optimism of XRP bulls.
It is important to note that this content serves as informational only and should not be considered financial advice. The opinions expressed in this article are solely those of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic is not responsible for any financial losses incurred.
