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

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

Cover image via news.u.today
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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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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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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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