Veteran trader Peter Brandt thinks XRP could fall in value against Bitcoin (BTC) as the pair approaches a low.
Brandt tells According to his 728,900 followers on social media platform
According to the seasoned trader, the target for range breakdown based on classic charting principles is 0.0000002 BTC ($0.013).
“From a purely classic card standpoint (i.e. Schabacker, Edwards, Magee) this card seems to be on its way to zero…
It’s actually fun to poke fun at XRP_aholics. My comparison is with BTC, not USD, so this is what I don’t understand. How can XRP bulls insist that XRP is near ATLs versus BTC, and in fact has only closed higher than current levels in six of the last 126 months?
People who are so opinionated about an asset class (XRP vs BTC) should have a little more performance on their pathetic side before they become too critical.
Brandt acknowledges the possibility that XRP has more upside potential than BTC for the remainder of the current market cycle say the “burden of proof” lies with the payment altcoin.
“Very possible. But the burden of proof is on XRP, not BTC. And if it’s about alts, why not something other than XRP?”
Brandt has been bearish on the XRP/BTC pair since at least 2017.
BTC is trading at $62,834 at the time of writing. The highest-ranked crypto asset by market capitalization is up almost 3% in the past 24 hours.
XRP is trading at $0.504 at the time of writing. The seventh-ranked crypto asset by market capitalization is up almost 1% in the past 24 hours.
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