Unattractive and Overhyped? Peter Brandt Compares XRP to Ford’s Flop Car Edsel

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Sun, 08/09/2020 - 18:42
Alex Dovbnya
Trading legend Peter Brandt compares XRP to Ford’s biggest flop
Unattractive and Overhyped? Peter Brandt Compares XRP to Ford’s Flop Car Edsel
Cover image via www.peterlbrandt.com
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XRP, the cryptocurrency associated with blockchain company Ripple, continues to face harsh criticism from unapologetic commodity trading veteran Peter Brandt.

In a recent tweet, he drew a hilarious comparison between the struggling token and Edsel, Ford’s most famous flop car.      

Chainlink is having its Tesla moment

Brandt tweeted out yet another insult directed at XRP in response to Onchain Capital CEO and CNBC Africa Ran NeuNer who crowned Chainlink (LINK) as the Tesla of the cryptocurrency industry.

Chainlink (LINK) has surged by yet another 45 percent over the past two days, surpassing Bitcoin in terms of trading volume on the Coinbase exchange.  

Despite Zeus Capital actively working to spread FUD about Chainlink and short-sellers trying to catch the top, LINK keeps updating its all-time highs. 

This is reminiscent of how the shares of the Elon Musk-helmed e-car manufacturer performed in early July before eventually taking a respite.    

The price action of the LINK token is also eerily similar to that of XRP in late 2017. The latter, despite surging 43 percent over the past month, is down 7.69 percent from where it was trading one year ago. 

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Ford’s retro cars penetrate the crypto discourse    

Edsel, which took ten years and $250 mln to get planned and manufactured, is considered to be one of the biggest failures in the car industry and a synonym of a commercial flop. Shortly after its debut in 1957, Ford discontinued the production of Edsel just three years later.

Edsel
image by time.com

Brandt is not the only only one who brings up Ford’s retro cars to make an argument about a cryptocurrency. Earlier this year, crypto baron John McAfee compared Bitcoin to Ford Model T, the first mainstream American car, to underscore how outdated its tech is.   

About the author

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, can be contacted at alex.dovbnya@u.today.