Veteran trader Peter Brandt, who has been active in the financial markets since 1975, has issued a public apology and extended an olive branch to XRP holders.
In a recent tweet, Brandt acknowledged that he had been harsh in his past criticism of XRP and its supporters.
He admitted to his rudeness but emphasized that his remarks were never intended to attack individuals personally. According to him, his critiques only targeted the speculative nature of the XRP asset and its volatile performance.
Brandt’s Perspective on Capital Preservation and Why XRP Falls Short
Notably, Brandt’s criticisms stemmed from his long experience in trading. Having built his career from modest beginnings, Brandt emphasized the importance of protecting capital.
This led him to question the wisdom of holding onto an asset like XRP, which has a long history of underperformance. Specifically, Brandt pointed out that XRP has historically experienced steep declines of up to 90% or more compared to Bitcoin, which Brandt views as the “store of wealth” standard. To him, this is unacceptable.
He explained that, as a trader, holding onto an asset that consistently loses value against a more stable one is “insanity.”
Meanwhile, Brandt clarified that it wasn’t the roller-coaster performance of XRP that he ridiculed. Instead, he focused on rather the “dogmatic, obnoxious” defense of the asset by some of its holders, even during periods of significant unrealized losses. His stance was rooted in his belief that protecting capital should be a top priority for any investor.
For context, while XRP is trading with an impressive 60-day gain of 272%, it is still down by 35% from its all-time high. Before now, XRP largely traded at around 85% of its peak value, with holders enduring losses for over half a decade.
In particular, XRP last saw an all-time high seven years ago. On the other hand, Bitcoin continues to reach new all-time highs as it enters a price discovery phase.
Essentially, Brandt pointed out that XRP holders’ refusal to acknowledge this financial deficit is what he had continuously criticized.
Parting Words: No More XRP Posts
In his message, Brandt made it clear that this would be his last public post about XRP, regardless of the response.
He offered his “olive branch” to the XRP community, thanking those who accepted it gracefully and leaving the door open for those who might respond with negativity or hostility.
Furthermore, Brandt reiterated that his trading philosophy revolves around cutting losses fast and allowing promising trades to grow, which he believes ensures long-term success. He closed with well-wishes for XRP holders, acknowledging their ongoing success.
However, he stood by his belief that an asset that regularly loses a significant portion of its value against a more stable asset is not a sound wealth-building strategy.
An Olive Branch to $XRP holders
Accept it if you will, reject it if you must, but I offer it with good intent
Over the years I have taken some hard shots at you and your $XRP asset. I admit my rudeness.
You’ve now had your chance to return the “favor.” I get it. Some of your… pic.twitter.com/KIXdbz4gpJ— Peter Brandt (@PeterLBrandt) January 12, 2025
Notably, before now, Brandt had flipped bullish on XRP, suggesting that the asset could witness an explosive run in an analysis last November. At the time, XRP had broken out of its years-long consolidation following Donald Trump’s victory. His olive branch comes amid another impressive rally from XRP, which he recently called the “leader of the pack.”
