The legendary trader has once again attacked the XRP

Peter Brandt called the XRP “garbage” in response to a tweet about the sales of Ripple co-founder Jed McCaleb. “Just goes to show that even garbage can make a person a billionaire,” the veteran chartist tweeted.

Peter Brandt Calls XRP “Garbage”

After an eight-year selling spree, Ripple officially confirmed that Jed McCaleb had liquidated his XRP holdings. The co-founder earned an estimated $3.09 billion from selling his tokens on top of 708 BTC. The co-founder also liquidated his stake in Ripple. McCaleb’s net worth is estimated to be $2.1 billion.

After a falling-out with Ripple, the early blockchain pioneer, who created the now-defunct Mt. Gox exchange, launched Stellar, another successful cryptocurrency project. Brandt has repeatedly stated that the XRP cryptocurrency is unregistered security. That said, Brandt said that he was still open to owning the cryptocurrency “under the right circumstances” despite regulatory uncertainty surrounding the controversial cryptocurrency.

The trader called the cryptocurrency a “scam” back in 2020 and predicted that the U.S. Securities and Exchange Commission would sue Ripple. Brandt has also been critical of other altcoins. In June 2020, the trader said that Chainlink (LINK) became popular with those traders who realized that XRP was a sham. XRP is down as much as 89.49% from its record peak, underperforming other major cryptocurrencies.

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