Brandt's 'Fool Coin' Label Tests XRP's Utility Value

Veteran trader Peter Brandt has been critical of XRP, labeling it a 'fool coin' in September. He argues that just because a token enables quick and cheap payments, it doesn't necessarily mean it's a solid investment. This critique came just days before Evernorth's 473 million XRP was set to begin trading on Nasdaq under the ticker XRPN on October 8.

As of October 2, XRP is priced at $1.52, about 58% lower than its peak of $3.65 in July 2025. This raises the question: does XRP's payment utility carry weight in its price potential, or is Brandt correct that usefulness and investment value are distinct?

Brandt acknowledges that XRP can facilitate effective, inexpensive transactions. However, his argument focuses on a narrower point: 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.

XRP's performance continues to lag behind its rivals. Over the past year, it has dropped about 50%, while Bitcoin has declined by 30%, Ethereum by 38%, and Solana by 47%. The 473 million XRP listing on Nasdaq may provide access to the token, but it does not guarantee new buyers. Evernorth already possesses these coins, so the listing merely re-packages them unless the company decides to acquire additional XRP.

Payment utility appears to have limited influence on XRP's price, lending credence to Brandt's argument. While XRP has experienced a rally alongside the broader market, it continues to lag behind Bitcoin, Ethereum, and Solana over the last 90 days.