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Trading Legend Peter Brandt Slams XRP Fans on Twitter, Here’s Why

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Thu, 02/20/2020 - 14:24
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  • Famous old-school trader Peter Brandt criticizes XRP fans while the XRP Liquidity Index comes close to 20 Mln on the Bitso exchange

Cover image via www.facebook.com
Contents

Old-school stock market trader Peter Brandt, who frequently posts Bitcoin charts and sometimes comments on the course of other top coins (e.g. XRP), has bashed crypto fans and, in particular – XRP hodlers.

Trading guru slams XRP fans

Peter Brandt says that he has been receiving insulting responses from XRP fans, emphasizing that these people lack civility, are immature and rude.

In the future, Mr Brandt plans to choose another social media group for posting crypto charts.

Earlier today, Mr. Brandt posted a prediction of the XRP price, saying that the third-largest coin may soon decline to $0.20 – the low under which XRP has spent quite some time. Recently, though, it managed to break above this price point.

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XRP liquidity approaches new ATH

Meanwhile, XRP is gaining more liquidity as its index on the Mexican exchange Bitso is approaching another massive all-time high – 20 million.

At the time of writing, the index value totals 18,256,521. The ATH of 20,391,941 is very close, considering the fact that only 54 percent of trading on Bitso has been completed for today.

XRP ATH
Image via Twitter

The XRP army on Reddit has taken the news warmly, although the XRP liquidity value they are discussing is slightly lower than the one in the tweet above since their chart was posted several hours ago.

One Redditor writes:

“I wonder when mainstream financial media will start to notice. Currently XRP accounts for more than 10% of transfers in the USD-MXN corridor. My own guess is it needs to be 20-30% before it'll catch their eyes and since MoneyGram has around 20% (can't remember where I got that number) they would need more partners in that corridor but it also means that MoneyGram now runs 50% of their volume to Mexico through ODL."

XRP Liquidity
Image via Reddit

 

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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  • Bitcoin (BTC) bulls have high hopes for Q2 after the coronavirus-induced crisis tanked the price of the leading cryptocurrency

Cover image via stock.adobe.com
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Bitcoin, the number one cryptocurrency by market capitalization, is set to finish its tumultuous first quarter of 2020 in the red with a 10.65 percent drop, according to crypto data provided by Skew.    

As reported by U.Today, it suffered a price crash of enormous magnitude due to the coronavirus pandemic that resulted in the global economic shock. 

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In early 2020, Bitcoin was on track to have its best Q1 since 2013. In fact, it gained more than 50 percent after reaching its current yearly high of $10,508 on Feb. 13. However, this rally hit a snag and BTC printed its first negative February close in six years

All bull dreams have been brutally shattered after the 'Black Thursday' of May 12. On top of halving its price in less than one day, BTC was actually in great danger of hitting zero because of a string of liquidations on BitMEX. 

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The odds are in the bulls' favor  

That said, there is still a good chance that the bulls can stage an impressive comeback in Q2, which is historically the most successful quarter for the leading cryptocurrency.

Last year, BTC kicked off its impressive rally on Apr. 2 with a sudden 20 percent price pump.   

At press time, BTC is sitting at $6,480, continuing its streak of range-bound price action.  

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Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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