Veteran trader and Bitcoin enthusiast Peter Brandt is turning bullish on XRP as the asset surges by 63% in one week.
This week, Brandt has seemingly changed his tune on the crypto asset. In a new tweet, the career trader tells his 456,000 followers that XRP is poised to break out against Bitcoin (XRP/BTC).
“This is called a compound fulcrum and can be a quite powerful buy signal. XRP/BTC.”
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Brandt’s recent analysis is a bit of a 180 degree pivot from that which he shared with his followers back in March when he essentially called XRP a “scam,” pointing to the asset’s poor performance since Ripple’s run in with the U.S. Securities and Exchange Commission (SEC).
“So, all those who swallowed the XRP rip-off narrative from Ripple Labs hook, line and sinker, how’s your stash