Why Veteran Trader Peter Brandt Questions XRP Enthusiasts' Market Conviction

With over 840,800 followers on X, veteran trader Peter Brandt has made waves by questioning whether XRP bulls and silver advocates represent what he calls “the most gullible traders” in the market. His long-standing skepticism traces back decades—silver was trading at just $5 in 1975, yet remains a contentious asset among speculators today.

The XRP Rally and Subsequent Reality Check

XRP witnessed a dramatic 630% surge stretching from late 2024 through mid-2025, fueling euphoria among a substantial portion of the trading community. However, the recent market correction tells a different story. Current data shows XRP trading at $2.07 with a 17.54% annual decline, contradicting the earlier bullish narrative that captivated many retail traders.

Legal Headwinds and Sustained Optimism

Despite persistent regulatory scrutiny from the SEC against Ripple, the cryptocurrency’s backers have refused to abandon their bullish thesis. This resilience—or perhaps stubbornness—is precisely what Brandt seems to be questioning. The gap between fundamental challenges and unfounded optimism highlights a critical disconnect in how certain market participants evaluate risk.

Market Signals Suggest Cautiousness

The current environment displays warning signs that gullible traders often overlook. Trading volumes have contracted significantly, sliding from earlier peaks to a current 24-hour volume of $108.37M. Meanwhile, the market’s fear and greed index reflects ambiguous sentiment rather than conviction. These metrics suggest that sustained interest in XRP may be waning among sophisticated investors who recognize when enthusiasm outpaces fundamentals.

Brandt’s critique underscores a timeless market lesson: distinguishing between genuine conviction based on solid analysis and hype-driven positioning remains the hallmark of experienced traders versus those susceptible to cycles of boom and bust.