Peter Brandt, one of the most popular commodity traders, has crowned XRP as the "leader of the pack" in his recent social media post.
The Ripple-affiliated cryptocurrency has surged by more than 10% over the past 24 hours, racing ahead of the broader cryptocurrency market. With a market cap of $146 billion, the token retains its third spot by market cap after recently surpassing Tether (USDT).
Bitcoin (BTC), for comparison, has remained mostly flat after losing 4% over the last week.
Ethereum (ETH), the flagship altcoin, is also displaying rather anemic price action, adding only a modest 1%.
Alex DovbnyaBNB, the native token of the Binance exchange, is down 0.3% over the same period of time.
Stellar (XLM) and Cardano (ADA) are the only cryptocurrencies that have also recorded significant gains within the same time span (7.1% and 9.2%, respectively).
"Fair weather" analyst?
Some social media commentators have taken note of the fact that Brandt has seemingly changed his tune on XRP after being a vocal hater of the cryptocurrency.
As reported by U.Today, he warned the XRP community about a multi-year bearish pattern in August.
He also predicted that the token would go to zero against Bitcoin after previously slamming it as a "scam" back in April 2020.
Brandt posted a bullish XRP chart pattern in November, prompting some speculation about whether or not he actually warmed up to the controversial token.
However, he was quick to clarify that he did not plan to buy any XRP tokens despite his seemingly bullish turn. "I have not been a fan of Ripple. I pointed out the obvious on the chart but I do not own nor plan to own a single XRP," he said back then.
Dan Burgin
Vladislav Sopov