One of the biggest uncertainties in cryptocurrencies is XRP, and analysts’ comments always attract attention. Some analysts predict that the cryptocurrency could rise to $5, perhaps a bit too optimistically, while others seem to have their eyes set on $1. Amidst all this, world-renowned trader Peter Brandt made a significant statement about XRP, causing concern among investors.
XRP Coin Commentary
Peter Brandt, a seasoned market expert, emphasized that XRP could lose value against Bitcoin (BTC) as it continues to move towards its all-time low levels. Brandt shared his views in a tweet on the X platform, stating that the XRP/BTC pair is at risk of falling below its long-term low range.
Brandt mentioned that XRP might have more upward potential price movement compared to BTC throughout the remainder of the current market cycle. However, he also noted that the “burden of proof” still lies with XRP.
Very possible. But the burden of proof is on XRP, not BTC. And if the game is to be played with altcoins now, why not something other than XRP?
According to Brandt, the XRP/BTC pair has shown a downward trend since 2017. As of the time of writing, BTC is trading at $61,534. BTC, which is indisputably at the top by market value, has seen a decline of approximately 2.27% in the last 24 hours.
BTC’s market cap remains just above $1.2 trillion. The 24-hour trading volume, after a sharp rise yesterday, has calmed down a bit and increased by 5% to reach $28 billion.
How Much is XRP Worth?
On the other hand, XRP is trading at $0.504. Based on this price, it holds a market cap of $27.9 billion, ranking 7th on the CMC list.
It has seen a decline of approximately 1% in the last 24 hours. Additionally, its 24-hour trading volume has risen above $1 billion again after a 6% increase.
Due to the SEC vs. Ripple lawsuit, XRP remains one of the biggest uncertainties in cryptocurrencies. Investors are eagerly watching to see if a favorable decision in the case could push XRP back to the $1 region.
