Brandt Labels XRP a 'Fool Coin' as Evernorth Lists 473 Million XRP on Nasdaq
Veteran trader Peter Brandt has labeled XRP a 'fool coin' in a recent critique, arguing that just because a token enables quick and cheap payments doesn't necessarily mean it's a solid investment. This comes just days before Evernorth's 473 million XRP is set to begin trading on Nasdaq under the ticker XRPN on October 8. XRP's price is currently at $1.52, about 58% lower than its peak of $3.65 in July 2025.
Brandt acknowledges that XRP can facilitate effective and inexpensive transactions, but his argument focuses on the point that a token's payment functionality does not automatically translate into higher value. He notes that XRP holders do not benefit from transaction fees or Ripple's revenue, so XRP's price relies more on how many people want to hold it than how many use it.
The performance gap between XRP and its crypto rivals raises a pointed question about whether real-world payment utility counts for anything in the price. Over the 90 days leading up to October 1, XRP rose 31% and 10% in the past month, but over the same period, Bitcoin rose 33%, Ethereum 53%, and Solana 43%. This demonstrates that XRP's recent rally has not kept pace with these favored cryptocurrencies and appears more tied to overall market trends.
Evernorth's 473 million XRP listing adds access, not proven new buyers. Shareholders of Armada Acquisition Corp. II approved the merger with Evernorth on September 30. This merger is anticipated to close on October 7, and at the current price of $1.52, Evernorth's 473 million XRP is valued at around $719 million. However, this listing does not guarantee new buyers, as Evernorth already possesses these coins.