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Legendary chartist Peter Brandt: XRP should be actually given out for free

Commodity trader Peter Brandt has lashed out at Ripple Inc Labs, saying XRP is worth nothing than being given out to the world for free. Peter, whose comments are held in high esteem by the cryptocurrency community, stylishly lashed XRP after a scammer posted a giveaway link of XRP on a post he shared on Twitter.

XRP is worth nothing than being given out for free

Responding, Peter Brandt said:

In the past, the veteran cryptocurrency trader and author of the number one Amazon trading book “Diary of a Professional Commodity Trader,” had likened XRP daily chart to that of a manipulated market.

During that time, he said the XRP daily chart contained all the signs of a manipulated market that may not favor investors in the end.

He said:

At the moment, the cryptocurrency market is maintaining a slight fall, with Bitcoin and Ripple changing hands at $6,789 and 0.1846 respectively. The first and third cryptocurrency by market cap was pushed higher on the eve of Easter before falling slightly on Easter Day.

However, analysts are still optimistic about the future of the market irrespective of the world’s financial market, considering the upcoming eventful halving.

Investment advisor Preston Pysh believes Ripple lacks an incentive price structure

Warren Buffett-inspired investment advisor Preston Pysh, has talked about why the price of XRP is performing poorly.

According to Pysh, XRP doesn’t have the price structure that will support organic price growth. The primary reason for this is that the token is centralized. On several occasions, Ripple executives have denied having any control over the price of the token. However, what they say is different from what everyone can see. Since the token was created, centralization concerns have hindered its growth preventing it from reaching its full potential.

A few days ago, the founder of Morgan Creek Capital Management Mark Yusko said that his firm isn’t going to add the XRP index until they are sure that it is decentralized. Meanwhile, whales control close to 85 percent of the total XRP supply. Former Ripple CEO Chris Larsen, the second richest person in crypto, boasts a 5.19 billion XRP fortune.

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Source: Coinmetrics

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