Saw this Quote in my Solpick notifications this morning while having my post breakfast Cochilos (siestas). Sorry but just had to share Peter’s thoughts. Of all the “fool coins” he could of mentioned, he chose Ripple’s XRP token as his example. Oh the irony.
Peter Brandt the man
Peter is a respected trader, a veteran with 50 years experience:
- 1976, commodity trading business with ContiCommodity Services, a division of Continental Grain Company
- 1980, founded Factor Trading Co., Inc, trading proprietary capital, producing market research and managing the trading activities of several large institutional clients
- 1990, published his first book, titled Trading Commodity Futures with Classical Chart Patterns. Considered a classic by traders
- 2011, published his 2nd book, Diary of a Professional Commodity Trader. Peter’s book became Amazon’s #1 ranked book on trading for 27 weeks
“some fool coin” like XRP 🤡 🤡 🤡
Disclaimer: I added the clown faces
Peter reckons:
”…the thesis of investors tipping money into “some fool coin” like XRP is often wrong. XRP’s usefulness for payments and Ripple’s banking partnerships don’t automatically make it a winning investment….Just because something is transactional, that doesn’t mean automatically that it must be more valuable….”
Peter is seeing this through the eyes of a trader but the principle mentioned applies equally or more so for investors.
Monthly volume on the XRP Ledger
As you can see the monthly volume of Ripple Labs XRP token has been slowly declining over the last few years.
This continual decline in transactional volume is despite the widely publicised banking partnerships and institutional adoption (i.e. promoted by Ripple Labs well funded marketing machine) and shilling by bag holders about Ripple Labs cross border payment infrastructure.
A popular misconception
Ripple and XRP are the same thing. Definitely not the same thing.
Below is an example of this popular misconception that was recently published on Pb0x
“Earlier, it was known as Ripple, but later on it was rebranded as XRP” @okalok1
- not true, it has always been the XRP token
- launched in June 2012, XRP is the native token of the XRP ledger (XRPL)
- Ripple is the company, originally called NewCoin, rebranded a month later to OpenCoin, 2013 rebranded to Ripple Labs Inc, 2015 it shortened its public-facing brand to Ripple
- recently Ripple Labs has rebranded its core server software from RIPPLED to XRPLD
- don’t worry it is a popular misconception for people new to the crypto world
The “bankers coin” that the bankers don’t use
If you are thinking of investing in the XRP token and want to know a bit more about RippleNet, Ripple Labs, XRPL and XRP the native token? How all the pieces of the jig saw fit together?
“Should I buy Ripple?” - the most asked question by no-coiners and newbies
DISCLAIMER: We did own a stack of XRP from 2017 days but we sold once we began to understood what we had bought into. So have always taken an interest in Ripple and their XRP token.
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