Peter Brandt, a well-known commodity and forex trader, recently sparked a strong reaction from the XRP community with his latest prediction about the coin associated with Ripple.
His forecast comes as XRP faces a price drop and continues to battle legal challenges with the U.S. Securities and Exchange Commission (SEC).
This is an X post that many will screenshot and remind me of often for years to come
Does everyone know that Ripple actually is formal name for “RIP PPL OFF ” $XRPBTC
Chart has an 11-year complex H&S that ONLY IF completed projects price to ZERO Bitcoin
Good news for the day! pic.twitter.com/KGodcqUn64— Peter Brandt (@PeterLBrandt) October 3, 2024
Brandt stirred the community by mocking Ripple in a post, suggesting the name could stand for “RIP PPL OFF.”
XRP saw a sharp 15% decline yesterday, disappointing investors who had been hoping for gains during the so-called “Uptober” rally. As of now, the coin is priced at $0.52, down 11.55% in the last 7 days.
The SEC has officially filed an appeal against Judge Analisa Torres’s decision in the Ripple case. Just ahead of the October 7 deadline, the agency submitted its request to the Court of Appeals for the District of Columbia, challenging parts of the ruling from July 13, 2023.
Initially, when Ripple was ordered to pay a $125 million penalty, many thought the case was nearing its end. However, this new appeal suggests the legal battle is far from over and could have contributed to XRP’s recent price slump. Despite this setback, several legal experts in the crypto space believe the SEC’s chances of success in the appeal are slim.
Shiba Inu is currently experiencing a bearish correction; however, recent on-chain data suggests a potential recovery on the horizon.
Bitcoin’s dominance in the cryptocurrency market has surged to its highest level in nearly three years, reflecting a trend driven by the weakening of altcoins amid geopolitical tensions and a strengthening U.S. dollar.
A prominent cryptocurrency trader, known by the alias Capo, is taking a bearish stance on Bitcoin (BTC) and Ethereum (ETH) as the market experiences a downturn.
Mark Cuban, the well-known Shark Tank investor and long-time supporter of Dogecoin, recently took a critical stance on meme coins, describing them as “a rug pull waiting to happen.”