Stellar (XLM) Is Basically Worthless But XRP Is Coiling Up – Peter Brandt


Before the Bitcoin price crash happened last year, many industry insiders predicted that the price was going to rise significantly against the USD. Peter Brandt was one of the few well-known traders who predicted a bear market at the time. Just when the price of cryptocurrencies reached their peak in January 2018, Brandt posted on Twitter:


“A general TA rule is that the violation of a parabolic advance will undoubtedly lead to a decline of at least 80%. If this happens, you should expect the price of BTC to fall as low as $4000. This doesn’t mean I am a hater.”


Peter Brandt Tweets About Stellar XLM And XRP (XRP)


On the 21st of January 2019, the trader took to Twitter one more time. This time, he talked about the XLM and XRP Price action. His Tweet about XLM was as follows:
“$XLM initially targeted .0653. Now it has targeted .00150. This means XLM is basically worthless. Sorry.”


What Brandt said is contrary to the prediction given by a group of cryptocurrency enthusiasts and traders who said that the XLM token will be up by 84% on the 1st of February 2019. This report failed to put the fundamentals and technicals into consideration. It was more or less based on personal opinion so the prediction is highly unlikely.


Stellar (XLM) Price Today – XLM / USD
Name Price24H (%)
Bitcoin (BTC)
$5,485.00
1.83%
Stellar (XLM)
$0.105510
5.39%


While Brandt made a negative statement about XLM, he was rather neutral about XRP. After the posted the tweet about XLM, another person asked him what he thinks about the XRP token. In reply, he said XRP is definitely coiling up.
The XRP army didn’t understand Brandt opinion of XRP. This is because in the cryptocurrency industry, the word ‘coiling’ is a signal used to indicate price volatility. It is neither referring to a bullish or bearish trend. This is why triangular patterns are referred to as coils on price charts.


XRP (XRP) Price Today – XRP / USD
Name Price24H (%)
XRP (XRP)
$0.302729
2.26%


Brandt’s tweet about Stellar comes just after the news about Grayscale Investment and Stellar Lumens Trust came to light as reported by smartereum.com. Thanks to this new deal, XLM will be exposed to the extensive network of investors with Grayscale. Grayscale confirmed that the fund was created to meet the strong demand for an on-platform asset backed by XLM.


Keep in mind that Ripple and Stellar have similar goals. Both companies intend to make cross-border payments efficient and cheap. While Ripple is trying to address this from an institutional level, Stellar is trying to resolve it from a grassroot level. Grayscale believes in both platforms as it also created an XRP fund. Both platforms are the most popular providers of cryptocurrency-based payment solutions on a global scale.


XRP And XLM Price Analysis


At the time of writing, XRP was trading at $0.317917. This means it is green against the USD up by 0.22%. On the other hand, it is down by 0.82% against BTC. The trading volume over a 24 hour period is $429,462,741 and the market capitalization is $13,047,435,409.


XLM is trading at $0.103395. This shows that it is up by 0.52% against the USD and down by 0.40% against BTC with a trading volume of $128,910,692 and a market capitalization of $1,977,936,287.


Do you think XLM is worthless? Share your thoughts in the comment session.

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