XRP Heading Straight to $0?...Peter Brandt: "It Will Become Worthless"

▲ XRP/ChatGPT Generated Image

A veteran trader with 40 years of experience is causing a significant stir in the market by presenting a shocking analysis that XRP could effectively converge to zero.

According to U.Today, a cryptocurrency specialized media outlet, on April 30 (local time), veteran trader Peter Brandt claimed, based on XRP's long-term price chart, that the asset's ultimate bottom would be just slightly above $0. Brandt diagnosed via his social media that XRP's price trend has entered a long-term decline and it is difficult to find a clue for a rebound.

Brandt cited XRP's continuous loss of value against Bitcoin (BTC) over the past several years as a major reason. He explained, "The trajectory of XRP shown on the chart follows a typical collapse pattern," and warned that from a technical analysis perspective, if the current support levels break, the price could fall into an unknown abyss. Brandt particularly noted that XRP is gradually being marginalized in the market.

In response to this pessimistic outlook, the Ripple community immediately pushed back. Supporters pointed out that Brandt's analysis completely fails to reflect the real financial innovations Ripple is pursuing and its cooperation achievements with central banks worldwide. However, Brandt retorted that market prices are already the result of all positive and negative news being priced in, and the current chart pattern is evidence that investors are turning their backs on this asset.

XRP's price is currently maintaining a precarious trend above key psychological support levels, and buying pressure is progressively weakening. Trading volume has also significantly decreased compared to its heyday, attesting to a decline in market interest. Whether Brandt's prediction will materialize, causing the price to plummet to around $0, or if it will succeed in a dramatic reversal, will be a key issue in the market going forward.

Brandt's analysis leaves a lesson that warning signals shown by charts in virtual asset investment should not be ignored. It serves as a reminder that even an asset with a large market capitalization might be unable to recover if its long-term trend breaks. Amidst the endless debate surrounding XRP, the actual direction of its price could bring very harsh consequences for market participants.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*