Ripple's work is nearing completion!

Legendary trader Peter Brandt has once again criticized XRP, the third digital currency in terms of market value.

He recently released a chart that predicts that if large XRP owners ignore the token, its price could drop to 1,100 satoshi against Bitcoin.

The last resistance

Brandt pointed to those who bought more than 40 billion XRP tokens. This 40 billion tokens is equivalent to 40% of the maximum inventory of this digital currency, which is not under the control of Ripple Company.

The XRP token has been under a lot of pressure since October 2019, and the 2300 Satoshi support level appears to be the latest resistance from XRP owners.

Preston Pysh, one of the investors, commented on Peter Brandt's tweet about the chart. According to his reports, the price of this token cannot increase naturally because it lacks an incentive structure.

Sales stop by Ripple

Ripple, which owns nearly 60 billion XR‌P tokens, has often been criticized for selling pressure on the token. This is something that the company's executives, such as Ripple CEO Brad Garlingus, have consistently denied, because lowering the price of XR‌P is not in their best interests.

Ripple has recently significantly reduced its quarterly sales, selling only $ 1.75 million XR‌P in the first quarter of 2020, down 99.3 percent from the second quarter of 2019.

However, the price of this token has taken a lot of effort to recover. The current price of the XR‌P token is $ 0.211.