Hi guys, today we share an article in which Peter Brandt claims Ripple’s XRP is on the verge of its do or die moment.
The famed trader has claimed that his technical analysis shows that if the token is not going to rebound from the $0.30 support range and recover the Bitfinex-driven losses, a huge price drop is almost inevitable.
He also said that XRP was undergoing a ‘popcorn rally’, which implies that the token’s price wouldn’t be able to keep up its momentum.
With all due respect to Mr. Brandt, he might be a very good trader, but he doesn’t know what he is talking about when it comes to Ripple and XRP. However, one thing that XRP holders need to realise is that his claim that the price could fall lower is a possibility. We need to be able to distinguish between probability and possibility.
It is a possibility that they push trillions of dollars’ worth of payments through XRP and the price of the token is triple digits by the end of the month, however the probability of this happening is slim. Equally, it is a possibility that the price falls to $0.20 - $0.25 or even lower.
Anyone stating that XRP could go to zero clearly doesn’t know about what it will be used for and their research (if any) has been lacklustre to say the least. Without XRP there is nothing else for interoperability and settlement within seconds. What we need to do as XRP holders is continue to learn about the asset, make peace with the fact that this is a long-term hold and that this isn’t going anywhere as soon as some hope.
And besides, if the price does fall lower, it is simply a great opportunity to get more of what is soon to become the most liquid asset on the planet at a great discount!
So, ignore the FUD, go get some XRP and live long and HODL!
Written by Dominic Zohreh
Twitter – domz_invests
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