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Ripple's XRP Is Bottoming Against Bitcoin: Trading Legend Peter Brandt

  • Alex Dovbnya
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    Commodity trading vet Peter Brandt shocks crypto Twitter by saying that the XRP price has already bottomed against Bitcoin  

Ripple's XRP Is Bottoming Against Bitcoin: Trading Legend Peter Brandt
Cover image via news.u.today
Contents

In his most recent tweet, veteran chartist Peter Brandt says that Ripple’s XRP is “bottoming” against Bitcoin. The third coin biggest by market cap is sitting at $0.255 (up 3.61 percent over the last 24 hours, according to CoinStats data).         

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Brandt’s rare bullish XRP tweet 

This is a surprising take from someone who claimed that the XRP price could plunge to as low as $0.02 just one month ago. Some Twitter users are still in disbelief, claiming that the Bitcoin maximalist is probably being sarcastic.

Brandt is known as an avid XRP hater. Notably, he had some words of praise for Ripple as a company, but he still believes that it grossly manipulates the token’s price.

Earlier, crypto trader Luke Martin pointed out that XRP was forming a rounded bottom, also calling the token his “favorite” altcoin.  

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Ripple’s XRP Celebrates Major Milestone Despite Pervasive FUD

Surviving all the FUD

XRP failed to make a splash in 2019 despite Bitcoin’s massive rally in Q2. As reported by U.Today, Multicoin Capital co-founder Kyle Samani claimed that Ripple and its continuous sales could be responsible for the token’s disastrous price performance.

Ripple CEO Brad Garlighouse recently did a CNN interview where he claimed that they couldn’t the price of the XRP token. 

With a slew of new developments within the Ripple ecosystem, it might be the beginning of a new glorious chapter for XRP.

What's your opinion on Brandt's bullish XRP call? Feel free to leave your comment under the article.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency

  •  Denis Sinyavskiy
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    Former US Congressman Ron Paul shares his thoughts on the possible creation of Fed’s own cryptocurrency

Ex-Congressman Says Fed Should Not Play With Own Cryptocurrency
Cover image via www.123rf.com

Former US Congressman Ron Paul spoke on Fox Business and said that the Fed should not think about creating its own cryptocurrency.

Fed’s Crypto: To Be or Not To Be?

Rumors have been circulating for the past few months about the Fed possibly creating own cryptocurrency. It is expected that a digital coin would become a competitor to its counterparts on the market, and may even replace fiat money. President Patrick Harker, President of the Federal Reserve Bank of Philadelphia, commented on such rumors at a recent conference:

“It is inevitable. I think it is better for us to start getting our hands around it.”

However, there has not been no official follow-up by the Fed towards a crypto exchange. While proponents of this idea believe such innovation is necessary, it is expected that the exchange could stop the current delays involving US bank transfers.

What do the opponents think about the Fed's own cryptocurrency?

The idea of ​​creating the Fed's cryptocurrency has its opponents. This includes Ron Paul, who believes that the Fed is in a better position to stay away from digital coins and allow the private blockchain sector and payment platforms to resolve this discussion in real-time. What the Fed plans to do next is unclear, but the central bank may still enter the game.

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About the author

Starting with a simple interest in cryptocurrency, over the past two years, Denis has worked in a cryptocurrency fund and become an author with an analytical bias. His engineering degree helps with the analysis of the technical part of the cryptocurrency market. As a fan of cryptocurrency, Denis believes that the blockchain technology is the future.

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