In a notable shift in sentiment, renowned technical analyst and commodities trader Peter Brandt praised XRP, calling the coin a current standout performer among its crypto peers. Brandt posted a daily chart of XRP/USD on X (formerly Twitter) on Sunday, declaring: “Leader of the pack.”
In the same post, he stressed the importance of real positions in the market more than just forecasts, saying: “I posted a chart last week predicting this. Forecasts mean nothing. Forecasts are a dime a dozen. Positions are what matters.” This statement emphasized his basic trading philosophy that actual collectibles outweigh speculation.
Brandt extends an olive branch to the XRP Army
Brandt’s endorsement of XRP follows key technical analysis he shared last week via X, in which he highlighted a potential “half-mast” formation. At the time, Brandt stressed that such patterns should be resolved within six weeks, warning that they would become suspicious if they did not:
“The half-mast flags must be completed within six weeks, otherwise they should be viewed with extreme suspicion. This flag must blossom into XRP soon, otherwise it will likely turn into something else TBD. But if it is completed, it could reach Market value to $500 billion.
According to Brandt’s analysis, if the cryptocurrency asset confirms the half-mast flag pattern, the asset’s value could more than triple in the following weeks. Notably, when the veteran trader made these comments, the market cap of XRP was around $138 billion, suggesting that an upward move to a $500 billion valuation could be in the offing.
As of this week, Brandt observed a clear breakout of the reported formation, which – if validated – would indicate that his forecast is still on track.
Brandt, who has been a vocal XRP skeptic in previous years, surprised the community on Sunday by expanding on what he said. described As an “olive branch” for XRP holders. After acknowledging previous criticism, Brandt attributed his caution to his need to protect business capital, saying:
“Over the years, I have taken some strict measures on you and your XRP assets. I admit my rudeness. (…) I am happy with your success at present. As a professional trader, nothing makes me happier than seeing other traders successfully climbing the mountain. I will not Never underestimate your success, only your 90% defensive approach degrades against assets that have more stability.
He stressed his firm belief that traders should preserve capital by staying away from assets that, in his opinion, have a history of sharp declines, especially for Bitcoin, which he considers the standard “store of wealth.” Brandt recounted how, in 1981, he went “all in” on futures trading with minimal initial capital, thus reinforcing the importance of capital protection:
“XRP has repeatedly over the years lost 80%, 90% and up to 97% of its value against Bitcoin which I consider to be the standard ‘store of wealth’. … Holding a speculative asset loss of 90% against more stable assets is the definition of insanity ( …) My belief is entirely based on my approach of cutting losses quickly and allowing profitable trades in any asset I hold to grow and I will stand by that faith as I stand by my belief that any asset can lose routinely 80% or more against a more stable asset is a crazy way to grow wealth.
However, he made it clear that his criticisms were primarily directed toward what he described as “dogmatic and hateful” defenses of the symbol amid the severe recalls, rather than the community’s personal endeavors. The legendary merchant concluded:
“If you accept my olive branch, thank you for your generosity. If you reject it out of rude or gross sentiments only, that is your choice. Rest assured that I made the last X post about your precious XRP. I wish you the best with this asset.”
At press time, XRP was trading at $2.45.
Featured image created with DALL.E, a chart from TradingView.com
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