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Peter Brandt Suggests That Ripple’s XRP Price Could Drop to $0.02

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XRP will crash and burn

Brandt is certain that Ripple’s ‘make-or-break’ moment will come once XRP appears in the $0.2400 region, which is not that far-fetched considering that the third biggest coin is currently trading at $0.2586 on the Bitstamp cryptocurrency exchange.

If the XRP price drops below that level, it could go all the way down to $0.0207 given that Ripple won’t be able to hold support any longer.

Source https://news.u.today/news/trading-legend-peter-brandt-suggests-that-ripples-xrp-price-could-drop-to-002

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4 minutes ago, Plikk said:

In other news, an asteroid could hit earth tomorrow. 

Basically. Could he be right? ..anyone can be right. XRP generally moves with the market though, so dumping to $0.02 would mean we're seeing some similarly epic losses crypto market wide.

PB's known and long-standing anti-XRP pro-BTC bias notwithstanding.

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17 minutes ago, Javim777 said:

Everything is possible. He is experienced trader, he can be wrong but his opinion matters.

Hopa that he is wrong and Ripple are capable to manipulate up the price.

Plenty of experienced traders have been rekt by crypto and TA has been proven wrong time and time again. While I appreciate these exercises, PB has a long history of anti-XRP rhetoric, and it is very clearly on display in this post (and nearly every other one he's ever made). I stand by my last statement regarding the entire market as well, which is something PB doesn't seem to acknowledge - where do you think BTC or ETH will be if XRP drops to $0.02? You think XRP, the #3 DA, with actual utility and a fresh MGI partnership, will lose 80%+ of its current value and the rest of the market will just sit still?

Could we drop to $0.02? Sure. But IF we drop like PB is saying we "could" (he didn't say we will, which means he can claim he was right pretty much under any circumstance), then the rest of the market is dropping with us. If PB's opinion really matters to you, then you should take everything you have out of the market and park it in FIAT until the smoke clears.

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11 minutes ago, fatlever said:

Well another Billion XRP looks like is going to be dumped so this won't help.  While that looks good for people like Hodor who have a XRP blog and will get rewarded, most of us have had to buy our XRP.  

https://www.coindesk.com/ripple-is-giving-away-1-billion-xrp-in-massive-bid-to-fund-online-content

Great news! Ecosystem and distribution expands!!!

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I would have thought in the case of a further crash there would be very substantial support at .16.

I would also expect Kitao and others to get involved in supporting XRP if it went into free fall.  They have a lot invested in this project and at very low prices they would be able to soak up a lot of the selling pressure.  The third factor is that XRP is the wild card currency that everyone, even BTC sceptics, will buy if it makes a sudden substantial move upwards.  By this I mean a bear market can turn into a raging bull very quickly.

If XRP really was going down the tubes like Brandt suggests it could easily attract attention from big players like Google and paypal as a entry point into blockchain.

Brandt is of course someone who makes his money though looking at charts.  I wonder if he is as good at looking at the underlying strength of businesses. 

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14 minutes ago, fatlever said:

Well another Billion XRP looks like is going to be dumped so this won't help.  While that looks good for people like Hodor who have a XRP blog and will get rewarded, most of us have had to buy our XRP.  

https://www.coindesk.com/ripple-is-giving-away-1-billion-xrp-in-massive-bid-to-fund-online-content

I have mixed feelings about this myself.

On the one hand, we need Ripple to continue to divest itself of XRP.

On the other hand, we can't keep having third parties dump XRP into the market. The conditions of this grant aren't public, but I certainly hope Ripple has learned from their mistakes and put restrictions on the sale of this XRP. I'm inclined to have some faith in Ripple leadership and assume that they did restrict how this XRP may be sold into the market, given past lessons learned.

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35 minutes ago, Julian_Williams said:

I would also expect Kitao and others to get involved in supporting XRP if it went into free fall.

Free fall might be good because it would spur Ripple to do more self-examination. Schwartz did express surprise months ago that the price is where it's at. 

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Somoene(s) are buying all this "dumped" XRP as well. We should never forget this.  All those millions and billions of XRP.  They're being bought. We may not like the price, but these XRP are being bought like crazy as people are selling, and not by retail investors.  Keep it in mind.

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This is an absolutely typical Brandt tweet. Ambiguous statement? Check. Get a quick dig in at Ripple? Check.

Its hilarious he thinks Ripple have manipulated the price whilst a lot of people believe their dumping has caused the price to fall/ not rise enough. 

Or maybe he’s leaving himself open to saying that that’s what he means, that Ripple are manipulating the price down!

If someone asks him what evidence he has for Ripple manipulating the price you’re not gonna get an answer. Maybe something like ‘isn’t it obvious they have?!’

Good technical analyst with tons of knowledge but often lets fundamentals cloud his tweets. Don’t talk about what you don’t know Peter.

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33 minutes ago, djdhrubs said:

Its hilarious he thinks Ripple have manipulated the price whilst a lot of people believe their dumping has caused the price to fall/ not rise enough. 

Or maybe he’s leaving himself open to saying that that’s what he means, that Ripple are manipulating the price down!

 

It's fair criticism of Brandt's analysis.  At the same time, it's amazing how a large number of people in this forum reference Galgitron whose writing are childish, delusional and half retarded as evidence that XRP price is being manipulated by whales who are trying to accumulate more.  

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XRP is pretty damn shiny. The whales are endlessly doing whatever they can to foment the perception that XRP isn’t a good investment. They know people don’t pay attention to true ‘value’, such as Ripple’s expansion, or the incredible rate of xRapid adoption, etc., no, people only look at that one stupid ******* number, the "price", and THE WHALES CONTROL IT, and by extension, they control the sheeple’s minds, because sheeple are ******* stupid and greedy, and will believe any picture the whales choose to paint in the prices.

Whales have been beating down the price of XRP for a very long time, which is facilitated by them procuring XRP in slow times, but when XRP starts to heat up, you can vividly witness both the Bitcoin volume pick up to match as the whales buy up BTC to increase the price, and simultaneously the XRP price getting hammered down as they sell their XRP war-chest. The whales just have SO MUCH ******* MONEY, that they can keep these invisible sell walls going until these price advances burn out.

http://galgitron.net/Post/Weekend-at-Bitcoins

 

 

 

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