According to U.Today, Peter Brandt, a seasoned trader, has given a stark evaluation of XRP's price movement compared to Bitcoin (BTC), using traditional charting principles. Brandt's analysis indicates that XRP's chart pattern is on a downward slope, possibly heading towards zero. The chart Brandt shared shows XRP's price against Bitcoin, currently at 0.0000084 BTC, its lowest point in recent history.
Brandt's analysis calls for a critical review of the optimism surrounding XRP, especially when juxtaposed with Bitcoin. He points out that XRP has only closed higher than its current levels in six of the past 126 months, suggesting a long period of underperformance. While Brandt acknowledges the potential for XRP to outperform BTC in the future, he emphasizes that the onus of proof lies with XRP. He suggests that investors looking at alternative cryptocurrencies might find more promising opportunities than XRP.
Brandt's cautionary comments highlight the challenges XRP faces in a market dominated by Bitcoin and a plethora of competing altcoins. His observations add to the ongoing debate about XRP's price trajectory, leading investors to question the sustainability of its current levels. As one of the largest and most popular coins, XRP continues to be in the crypto market spotlight. However, what this means for its price and consequently for investors' portfolios remains a significant question.