XRP, the cryptocurrency associated with Ripple, has surged over 10% in the last 24 hours, solidifying its third place in market cap. Renowned trader Peter Brandt has declared it the "leader of the pack."
Unexpected Rise of XRP
The XRP token has seen a price increase of more than 10% in the past 24 hours, outperforming most other cryptocurrencies. It maintains its third position by market capitalization, reaching $146 billion and surpassing Tether (USDT).
Peter Brandt's Opinion
Peter Brandt, a noted commodity trader, recently declared XRP as a leader in a social media post. Previously, in August, he warned the XRP community about a multi-year bearish pattern. In the past, he even stated the token would go to zero against Bitcoin and referred to it as a "scam." Now, Brandt has presented a bullish XRP chart, but clarified he does not intend to buy the token: "I have not been a fan of Ripple. I pointed out the obvious on the chart but I do not own nor plan to own a single XRP."
Market Overview
While XRP has surged, other major cryptocurrencies show less impressive trends. Bitcoin has been mostly flat after losing 4% over the last week. Ethereum has added only 1%, while Binance's BNB token is down 0.3%. In contrast, Stellar and Cardano have shown significant gains of 7.1% and 9.2%, respectively.
The rise of XRP has sparked broad interest in the cryptocurrency market, bringing the token back into the spotlight despite ongoing debates and criticism.
