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XRP Practical, but no intrinsic value
Veteran trader Peter Brandt took a sharp stance on XRP, calling it a "fool coin" and challenging the widely held view that Ripple's payment utility is sufficient to support a higher market valuation. Brand made the comments on Cointelegraph's Trade Secrets program.
Brand said that XRP may be effective and inexpensive to use in trading, but its practicality in itself is not enough to justify its increase in market value. To illustrate this point, he used the US dollar as an example to explain: People buy US dollars not as a long-term asset, simply because it is an efficient medium of exchange. He believes that the same logic applies to XRP.
Brand points out that XRP's payment use cases and Ripple's partnership with banks do not necessarily mean its value will increase. He also mentioned that uncertainty about the total supply of XRP and expansion risks are additional reasons to be cautious about the asset as an investment target.
Bitcoin is bullish, altcoins need to be cautious
Brand's skepticism about XRP contrasts sharply with his broader market outlook. He predicts that by the end of 2029, bitcoin prices could reach between $300,000 and $600,000, higher than his previous estimate of $250,000 to $300,000. In his eyes, Ether and Solana are more popular among altcoins than XRP, although he did not elaborate on why.
For investors with higher risk tolerance, Brand recommends moderate control of cryptocurrency exposure. He advised financially sound investors to limit their allocation of digital assets to less than 10% of their portfolio, with bitcoin taking the lion's share, and warned against chasing newly issued tokens.
Despite calling XRP a "fool's coin" in terms of investment value, Brand has acknowledged its trading utility. His chart analysis also sometimes suggests that XRP could soar, having previously given a technical target price of $5.40. However, this nuance did not quell the strong backlash from XRP supporters, who continued to emphasize the token's expanding use cases and fixed supply as a reason to remain bullish.
