Veteran trader Peter Brandt offers a truce to the XRP army: details

TL;DR

Peter Brandt apologized for previous criticism of XRP, praising the asset’s supporters and taking a more optimistic view. Last year, former critic Charles Hoskinson lamented past clashes with the XRP army and proposed collaboration with Ripple in future projects. “I admit my rudeness”

Ripple’s XRP is one of the most popular cryptocurrencies, with its community (consisting of investors, advocates, and developers) numbering in the millions. 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 its lawsuit against Ripple, it stated that the token “would have been declared a security” if the agency “understood cryptography”.

Brandt continued his manifesto of attack in the following years. In May of last year, he predicted that the XRP/BTC chart was “heading for zero.”

Lately, however, it has begun to soften its stance, exposing bullish price forecasts for Ripple’s native token. He also apologized to the XRP Army for his comments in the past:

“An olive branch to XRP holders. Take it if you want, reject it if you must, but I offer it with good intentions. I’ve taken some hard shots at you and your XRP asset over the years. I admit my rudeness.”

Brandt explained the reason for his skepticism with the fact that the price of the asset “has repeatedly over the years lost 80%, 90%, even 97% of its value in BTC, which I consider to be the “store of wealth” standard.

The trader noted that proponents of XRP continued to praise the asset even during times of substantial price declines. “I applaud this research. I am glad for your success now,” he added.

In conclusion, Brandt said that he wishes all XRP investors the best. He stated that as a trader, his faith has never been in a single asset, but “has been completely based on my approach to cut losses quickly and enable profitable trades.”

“I’ll keep that faith. And I think any asset that can routinely lose 80% or more against a more stable asset is a crazy way to grow wealth,” his statement reads.

Hoskinson’s reaction

One of the people who noticed Brandt’s excuse was Cardano founder Charles Hoskinson. Interestingly, he also had a falling out with the XRP army years ago. In 2022, for example, he criticized the community for being “toxic and mean”.

In November 2024, however, he apologized for his anti-XRP comments and even hinted at 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 to maybe , participate in this stablecoin that the Ripple ecosystem has been creating.”

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