In a recent social media update, well-known commodity trader Peter Brandt labeled Ripple (XRP) as the “frontrunner” or “front-runner” among other digital assets.
Over the last day, the digital currency linked to Ripple has jumped by over 10%, outpacing the overall cryptocurrency sector. Boasting a market value of $146 billion, this token continues to hold its third position in terms of market capitalization, having recently edged past Tether (USDT).
Bitcoin (BTC), for comparison, has remained mostly flat after losing 4% over the last week.
In simpler terms, Ethereum (ETH), a well-known alternative cryptocurrency, has shown somewhat weak price movement recently, increasing by just 1% in value.
BNB, the native token of the Binance exchange, is down 0.3% over the same period of time.
In the recent timeframe we’ve examined, both Stellar (XLM) and Cardano (ADA) stand out as the two cryptocurrencies that experienced substantial increases (Stellar at 7.1% and Cardano at 9.2%).
A “fair weather” analyst?
Some observers on social media platforms have pointed out that Brandt appears to have switched his stance on XRP, as he was previously critical and outspoken against this digital currency.
As reported by U.Today, he warned the XRP community about a multi-year bearish pattern in August.
In addition, he foresaw that the value of the token would drop to nothing compared to Bitcoin, as he had earlier labeled it as a “fraudulent scheme” back in April 2020.
In November, Brandt shared an optimistic chart pattern for XRP, causing some people to wonder if his previous cool attitude towards the debated cryptocurrency might have changed.
Despite appearing optimistic, it’s important to note that he never intended to purchase any XRP tokens, as he has never been a supporter of Ripple. Previously, he had acknowledged the bullish trend but clarified that he himself does not own, nor did he plan to acquire, even a single XRP token.
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2025-01-12 11:56