Ripple (XRP) sentiments have been mostly bearish for the better part of the year. Crypto analyst Josh Olszewicz remarked his disbelief that XRP could improve even in a vacuum. In fact, Olszewics was as skeptical as to warn investors to short their highs; in the wake of an anticipated long term bearish performance.
This was, however, only in January and at least six months ago. Crypto veteran trading and analyst Peter Brandt called out on all investors to lay asunder their trust on XRP by simply stating:” Don’t place your faith on Ripple (XRP)”
Perhaps I will do a series of Tweets on the financial advice I give my Gen X and Gen M children, nieces and nephews
Item 14 Don't place your faith in XRP
Item 22 Forget your fancy swirls at Starbucks. McDonald's coffee is from good Latin American beans. Coffee expenses add up
— Peter Brandt (@PeterLBrandt) June 19, 2020
While this is not the first time the trader has targeted XRP with negative remarks, the heavyweight trading positioned this as the very advice he gives to family members. In the past, Brandt claimed how XRP was manipulated by folks at Ripple and challenged the massive amount of XRP held by the company in relation to the total supply.
In his remarks, Brandt highlighted that XRP was only going to find solid support after or by dropping as much as 30%. This will only place the coin around the $0.0000145 prize zone, compared to its current price of $0.1867. The drop represents a very massive drop that would lead to massive losses among both investors and any XRP holders.
Several other analysts have been negative about XRP ‘s massive sales, which could contribute to the lackluster performance of the altcoin. For instance, whale-ish sales may be catalysts for exerting downward pressure on the price of XRP. Market experts now take the view that it is now time for the market to react to the increase in sales, which is enough to say; they have been massive over the last three quarters.
Ripple(XRP) has been confronted with a lot of pressure from the Crypto community, and this one is only just sand in a whole lot of blame. Blockchain researcher Geoff Golberg had previously reported thousands of Fake Ripple Shills and XRP bots that were used to manipulate social media sentiments on Twitter.
The researcher claimed that whenever social media fans have conversations about the XRP and Ripple labs, the debate would most likely take a nasty turn. And on some platforms, whenever someone posts a negative message about XRP, an unlikely number of Ripple supporters will often swarm the comment section.