Famous XRP antagonist, Peter Brandt, has reportedly mocked XRP investors following the token’s 97% crash against Bitcoin. However, the token’s fall has raised controversies as investors are reported to have stepped back as a result of the “manipulative move” made by Ripple Labs Inc.
XRP’s Alleged Fall
Ripple coin is one of the widely known cryptocurrencies. The digital currency has been termed as a security by the Securities and Exchange Commission (SEC), and a lawsuit has been filed against it for being unlicensed security. Ripple Labs Inc was sued for alleged sales of unlicensed securities worth over $1.3 billion.
Being the largest cryptocurrency after Bitcoin and Ethereum, it has a global market value of over $21 billion. However, Brad Garlinghouse, Ripple’s CEO, made it known that the firm is ready to take on the challenge brought up by the SEC as he says that Ripple is ready to fight and win.
Following XRP’s fall against Bitcoin, many exchange platforms have continued to remove XRP from their tradable tokens’ catalogue. This removal has been predicted to be one that will make the XRP’s price greatly plummet.
Peter Brandt’s Statement
Lewis Peter Brandt is a popular and classical chartist who is widely recognized for his outstanding commodity trading sense. He is the CEO of Factor Trading Co, a company he founded in 1980 after working for ContiCommodity Services, where he exhibited his expertise in handling accounts for the company. He has also been an account handler for the likes of Campbell Soup Company and Homestake Mining. He is also a writer who has written books which many traders term as classics.
He is popularly known to be an unrelenting antagonist of XRP for the past few years, using every opportunity to drop low remarks about the token. He is reported to have aired a declaration of XRP as a security. He claims that XRP’s case is a classical case of a chaser twisting the whole scenario for benefits.
However, he feels justified in his opinions concerning XRP following the lawsuit filed against it by the SEC. He also mocks XRP investors concerning the recent drastic drop of the token. In his words, he claims that XRP has been outmatched and outperformed by pig iron.