XRP May Drop to Zero Against Bitcoin, Warns Veteran Trader Peter Brandt

Chart Analysis

Peter Brandt, a seasoned trader, has warned that XRP may lose significant value against Bitcoin (BTC). According to his analysis, the XRP/BTC pair is nearing its all-time low and could potentially fall below 0.0000002 BTC ($0.013).

Bullish Outlook Challenged

Despite acknowledging the possibility of XRP outperforming BTC in the future, Brandt emphasizes that the burden of proof lies with XRP. He questions why XRP bulls are optimistic about its performance against BTC, given its historical weakness in this pairing.

Past Bearish Stance

Brandt has consistently maintained a bearish view on XRP/BTC since 2017. His latest warning serves as a reminder of his long-held skepticism towards the asset.

Current Market Situation

At the time of writing, BTC is trading at $62,834, while XRP is at $0.504. Both assets have experienced modest gains in the past 24 hours.