Peter Brandt Apologizes to XRP Community, Calls the Token the "Leader of the Pack"

Peter Brandt, a veteran trader with over 45 years of experience in the financial markets, has recently issued a public apology to XRP holders for his past criticism of the cryptocurrency and its community.

In a recent tweet, Brandt acknowledged his previous harsh comments on XRP, clarifying that they were primarily driven by his concerns regarding the speculative nature of the asset and its volatile price history. He emphasized that his critiques were not intended as personal attacks on XRP supporters.

Throughout his trading career, Brandt has maintained a strong focus on capital preservation, which has shaped his perspective on XRP. He highlighted the token’s tendency to lose significant value compared to Bitcoin during market downturns, sometimes dropping by 90%.

According to Brandt, holding an asset with such a track record of rapid declines is "insanity" for investors. His main frustration, however, was with the "dogmatic" defense of XRP by some of its supporters, even during prolonged periods of financial losses.

Despite his past critiques, Brandt's recent comments on XRP were notably positive. He acknowledged the token's strong performance during the recent crypto market rally, praising its ability to outpace the broader market.

Brandt shared a chart illustrating XRP's breakout, highlighting its potential for further gains. In his apology, he expressed his gratitude to those within the community who accepted his apology and extended his well wishes to others.

This statement concluded Brandt's public commentary on XRP, as he vowed to refrain from any further comments on the matter. He noted that while he maintains his earlier concerns about the token's volatility, he recognized the asset's recent strength and wished its supporters well.

XRP has been trading significantly lower than its all-time high of $2.9, attained seven years ago. Despite recent gains, the token remains 35% below its peak value, while Bitcoin continues to reach new highs and is in a price discovery phase.

Recently, XRP experienced a strong rally, reaching a one-month high of $2.6 over the weekend, notching an intraday gain of 10.04%. This marked the largest single-day increase for XRP since the start of the year.

During this period, other major cryptocurrencies, such as Bitcoin and Ethereum, showed minimal movement, with BTC slipping by 0.14% and ETH rising by 0.49%. A technical analysis of XRP's price chart shows that the token broke out of a symmetrical triangle pattern.

This breakout confirmed a bullish trend as it surpassed the $2.4 resistance level. Key indicators, such as the Average True Range (ATR) and Average Directional Index (ADX), suggest increased volatility and strengthening momentum. If the rally continues, XRP could target a resistance zone of $2.9 to $3.