Brandt Says XRP is a 'Fools Coin' but Acknowledges Its Transaction Utility

Veteran trader Peter Brandt has weighed in on XRP's value, calling it a 'fools coin' but acknowledging its utility for transactions. In an interview reported by The Crypto Basic on Aug. 26, Brandt distinguished between bitcoin and XRP, viewing the latter as a utility-focused cryptocurrency.

Brandt pointed out that just because an asset is useful for transactions does not mean it should have high market value. He used the example of the US dollar, explaining that people do not buy dollars as a long-term holding simply because they are efficient as a medium of exchange.

The trader also discussed XRP's supply structure and transaction use, suggesting that investors may one day be able to more clearly distinguish between overvalued and undervalued phases. However, he did not provide a price target or specific price outlook for the asset.