Veteran trader Peter Brandt attacked Ripple, accusing it of deceiving XRP holders
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Answer Veteran trader Peter Brandt attacked Ripple, accusing it of deceiving XRP holders
First of all, who is Peter Brandt?
Peter Brandt, 73, is a magazine publisher, film producer and art collector, owner and chairman of the board of directors of the New York-based Brant Publishing Company, which he founded in 1984.
Trader in the financial markets since 1975.
He is considered one of the most vocal critics of XRP for years, often using violent terms against Ripple and accusing it of defrauding XRP users and holders of the digital currency.
In his recent tweet he indicated that the digital currency Ripple is dying and published a graph of it against Bitcoin as shown below:
Therefore, all those who swallowed XRP Dollars Stealing time from the narrative @ripple Hook, labs, and plunger, how’s your stash? pic.twitter.com/yqeih8dv1u
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– Peter Brandt (@PeterLBrandt) March 13, 2021
In his tweet, Peter Brandt indicated that he felt a burnout for holders of the digital currency XRP and indicated his anger at Ripple, which caused deception and manipulation of its investors.
came his statement Meaning:
Supporters of the seventh largest cryptocurrency have fallen for the alleged deception of Ripple, its subsidiary XRP.
In early November, Brandt claimed that the Securities and Exchange Commission (SEC) should have declared XRP as collateral, just over a month before the regulator filed its lawsuit against Ripple.
XRP would have been announced as collateral if the SEC had understood cryptocurrencies.
This is a classic case of a market manipulated by a suitcase holder.
Digital currency XRP drops 97 percent against Bitcoin:
XRP is one of the very few cryptocurrencies that has yet to catch up with the broader rally led by bitcoin.
In late 2020, the digital currency XRP collapsed by more than 73 percent after the SEC’s lawsuit.
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The digital currency XRP is still down 87 percent from an all-time high of $3.40 reached on January 7, 2018.
The XRP/BTC pair is now down more than 97 percent from its May 2017 peak.
Without pulling back his punches and critiques, Brandt said that iron ore has outperformed the cryptocurrency XRP.
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