Veteran Trader Peter Brandt Explains Why He Criticized XRP In Earlier Years

Veteran trader Peter Brandt, a well-known figure in the financial trading world, recently addressed the XRP community in a post on X.

Brandt has been a long-standing critic of XRP, often highlighting its volatility and perceived shortcomings compared to Bitcoin. In his message, Brandt offered an olive branch to the XRP army, acknowledging past criticism and clarifying his perspective.

Brandt’s post reflects a notable shift in tone. He admitted to taking hard shots at XRP and its holders over the years. He acknowledged that some of the backlash he received in return was justified, even calling certain comments from XRP supporters funny and creative.

Brant’s comments come a few days after Mr. Intuitive, a well-respected member of the XRP community, called him out and drew attention to his previous stance against XRP. Despite his earlier criticisms, Brandt emphasized that his comments were not personal attacks on XRP investors but rather critiques of the broader narrative surrounding the asset.

Reasons For Brandt’s Criticism

Explaining his past stance, Brandt shared insights from his extensive career in trading, which began in 1981. He highlighted the importance of preserving his capital, particularly in volatile markets.

He emphasized XRP’s history of significant losses against Bitcoin, which ranged from 80% to as high as 97%, as a major factor behind his skepticism. For Brandt, holding an asset with such dramatic declines against a more stable alternative contradicted sound trading principles.

While Brandt reiterated his belief that Bitcoin serves as the store of wealth standard in the cryptocurrency space, he clarified that his criticisms were directed at the defense of XRP’s steep declines, not the ambition of its holders to achieve financial success.

Brandt also expressed happiness for the recent success of XRP holders, noting that he takes pride in seeing other traders succeed.

He maintained, however, that his trading philosophy remains centered on cutting losses quickly and allowing profitable trades to grow. He explained that his faith is rooted in disciplined trading, not unwavering commitment to any asset.

A Final Statement on XRP

Despite extending this olive branch, Brandt was firm in his closing remarks. He reiterated his belief that holding assets prone to extreme volatility is not sustainable for wealth accumulation. He also declared that this would be his final post about XRP, leaving the community with a choice to accept or reject his gesture.

This marks a significant moment for the XRP community. While his stance on XRP has softened, it seems the community’s willingness to forgive Cardano creator Charles Hoskinson was not extended to him. This reluctance has likely pushed him away from publicly supporting the asset.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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