Veteran trader Peter Brandt has renewed his long-running criticism of XRP, stating he would immediately convert a hypothetical 500,000 XRP position into Bitcoin rather than hold it. The comments came during an exchange on X on Aug. 15–16, 2026, when a supporter challenged his views. Brandt responded that he does all his betting in futures and added: 'Who the heck even cares about XRP?'
His remarks reflect a personal asset preference rather than a disclosed transaction or a new trading position. At XRP's rebound price near $1.059, the hypothetical 500,000 XRP stake would be worth around $529,500, equivalent to about 8.4 BTC with Bitcoin trading near $62,926. XRP briefly slipped below the psychological $1 level during Sunday's session, with a CoinGecko snapshot showing $0.9993, the first move below $1 since November 2024, before recovering toward $1.06.
XRP remains roughly 71% to 72.6% below its all-time high of $3.65 recorded on July 17, 2025. Brandt had flagged bearish technical risks as early as March 2025, when he identified a textbook head-and-shoulders pattern and suggested XRP could fall toward $1.07 if support failed. XRP eventually traded near that area, although the delayed move does not prove the original chart caused the decline. In December 2025, Brandt also grouped XRP and silver bulls among the easiest market participants to provoke during his career dating to 1975.
On-chain data provides additional context. CryptoQuant contributor Darkfost reported that the three-month average of XRP whale inflows to Binance fell to about $61 million, the lowest level since 2021, compared with $456 million in January 2025 and $355 million in October. Lower exchange deposits can indicate reduced potential sell-side supply, but they do not guarantee higher prices because demand can weaken simultaneously. For now, the immediate market question is whether XRP can establish support back above $1 following Sunday's recovery.
