Brandt Takes Fresh Aim at XRP, Questions Cult-Like Behavior

Prominent trader Peter Brandt continues to criticize the XRP community and its perceived 'cult-like' behavior. In a recent social media post, he noted that it's not necessary to be a certified cult member to own XRP, but rather just an interested owner. However, he emphasized the importance of looking at charts alone when making investment decisions.

Brandt's comments come after he faced criticism from the XRP community for describing XRP as a 'fool coin' and questioning its investment value due to its large supply. Despite this, he acknowledged that XRP can be effectively used for transactional purposes, but questioned whether this alone translates into investment value.

Brandt also shared a long-term weekly chart of XRP, which appears to show a potentially bullish technical structure, including an inverse head-and-shoulders formation. The price is currently approaching a horizontal neckline around the $1.50-$1.60 area, and analysts consider this a potential bullish reversal formation if it breaks above its so-called 'neckline'. As previously reported by U.Today, Brandt predicted that XRP could surge to $5.4.