XRP Chart Is 'Enough to Make A Bet,' Trading Legend Peter Brandt Says

Veteran trader Peter Brandt says investors don’t need to buy into the broader XRP (CRYPTO: XRP) narrative to see a trading opportunity in the token, as two upcoming events put the altcoin back in focus. "It is not necessary to be a certified cult member to be an interested owner" of XRP, Brandt said on Sept. 27, adding that the charts alone have historically provided enough reason for him to take a position. "There is a difference between being open minded and having a hole in the head," he added. While Brandt’s post drew broad attention, crypto chart analyst Ali Martinez said the veteran trader was late to the call, noting that he had projected XRP at $2 in mid-September. Separately, an XRP Ledger dUNL validator noted that investors hold XRP for different reasons, while arguing that the technology underpinning the token could emerge as a significant challenger to traditional finance. XRP-Linked Nasdaq Vote Set Armada shareholders are scheduled to vote on the proposed business combination on Sept. 30, a key step toward Evernorth potentially trading on the Nasdaq under the ticker XRPN. Shareholder approval would remove one hurdle, although the transaction would still need to close before public trading could begin. The proposed structure would provide public-market investors exposure to a company centered around XRP without requiring them to directly buy custody or manage the cryptocurrency. Evernorth plans to deploy its XRP holdings through yield strategies, infrastructure participation and capital-markets activity, with the goal of increasing the amount of XRP represented by each share over time. Ripple’s 1 Billion XRP Escrow Ripple’s monthly escrow mechanism could make up to 1 billion XRP available from Oct.1, although not implying it directly enters circulating supply. Under Ripple’s escrow structure, the scheduled release represents the maximum amount that can become available during the month. XRP that is not used can be returned to new escrow contracts and locked for future release. The distinction is important for traders assessing potential supply pressure, as the headline escrow amount does not necessarily translate directly into an equivalent increase in tradable XRP. Image: Shutterstock Read Also: XRP, Dogecoin Slide 8%, but On Chain Data Flashes Long-Term Traders in Deep Underwater