Trading legend Peter Brandt called the XRP token a security issued by Ripple and said he was not interested in it. Well-known commodities trader Peter L. Brandt, who has also traded Bitcoin for the past several years, posted a tweet calling XRP an OTC security. In addition, the analyst also shared his XRP conjecture.
Peter Brandt: A Head and Shoulders Pattern Appears in XRP!
Peter Brandt shared the XRP/USDT chart where he expects a head and shoulders model. However, Peter Brandt stated that he does not trade OTC securities. Therefore, the analyst named XRP as an OTC security. The trading legend added that no matter what he does, XRP will be of interest to him. Responding to a user’s comment, Peter Brandt openly shared his stance on the token linked to Ripple:
XRP is a security issued by Ripple Labs. As
Kriptokoin.com , the legendary commodity analyst has a history of wrecking Ripple’s XRP and turning it into a rigged scam. Peter Brandt stated in the fall of 2019 that if the SEC understood how crypto works, they would declare XRP a security.
Legendary Analyst: I’m Not Selling Ripple (XRP)!
In December 2020, Peter Brandt took to Twitter to praise the SEC’s lawsuit against Ripple. However, the analyst explained that he has never shorted cryptocurrencies, including XRP. Because, according to the analyst, crypto shorting can cause some “stock markets to explode.”
Despite his criticism of XRP, however, Peter Brandt continues to tweet about it. So, an example of Peter Schiff’s situation with Bitcoin. Ripple and the SEC went to court for the first time yesterday. Ripple accuses the SEC of not warning exchanges about XRP’s security status like they did in 2019.