Veteran Trader Peter Brandt Offers Truce to the XRP Army: Details
TL;DR
- Peter Brandt apologized for past XRP criticism, praising the asset’s supporters and adopting a more bullish outlook.
- Last year, former critic Charles Hoskinson expressed regrets for previous clashes with the XRP Army and proposed collaboration with Ripple on future projects.
‘I Admit My Rudeness’
Ripple’s XRP is one of the most popular cryptocurrencies, with its community (consisting of investors, proponents, and developers) comprised of millions of individuals. However, the asset also has its critics, and veteran trader Peter Brandt was one of them.
In November 2020, shortly before the US SEC filed the lawsuit against Ripple, he claimed that the token “would have been declared as a security” if the agency “understood cryptos.”
Brandt continued his bashing manifest in the following years. In May last year, he predicted the XRP/BTC chart “is headed toward zero.”
Lately, though, he has started softening his stance, outlining bullish price forecasts for Ripple’s native token. Moreover, he apologized to the XRP Army for his comments in the past:
“An Olive Branch to XRP holders. Accept it if you will, reject it if you must, but I offer it with good intent. Over the years, I have taken some hard shots at you and your XRP asset. I admit my rudeness.”
Brandt explained the motive of his skepticism with the fact that the asset’s price “has repeatedly over the years lost 80%, 90%, up to 97% of its value to BTC, which I consider to be the “store of wealth” standard.”
The trader noted that XRP proponents kept praising the asset even during times of substantial price crashes. “This pursuit I applaud. I joy in your success at present,” he added.
In conclusion, Brandt said he wishes all XRP investors the best. He stated that as a trader, his faith has never been in a single asset but “entirely based on my approach to cut losses quickly and allow for profitable trades.”
“I will stand by that faith. And I stand by my belief that any asset that routinely can lose 80% or more against a more stable asset is an insane way to grow wealth,” his statement reads.
Hoskinson’s Reaction
One of the people that noticed Brandt’s excuse was Cardano’s founder, Charles Hoskinson. Interestingly, he also quarreled with the XRP Army years ago. In 2022, for example, he criticized the community for being “toxic and petty.”
In November 2024, though, he apologized for his anti-XRP comments and even envisioned a possible partnership between the Cardano and Ripple ecosystems:
“I would love to find ways to build bridges and work with them just like we are building bridges with the Bitcoin ecosystem. There are many areas of potential collaboration that I could see: from Midnight interoperability with Ripple up to perhaps participating in this stablecoin that the Ripple ecosystem has been creating.”
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