Peter Brandt forecasts Bitcoin growth while questioning XRP value

Veteran trader Peter Brandt has provided contrasting outlooks for major cryptocurrencies, emphasizing the need to evaluate assets based on their specific functions. Regarding Bitcoin, Brandt suggested the asset may have already passed its local bottom and could enter a new bullish phase, potentially reaching between $300,000 and $600,000 by late 2029.

In contrast, Brandt remains skeptical of XRP. While acknowledging its efficiency for low-cost transactions and payments, he argued that utility does not inherently guarantee price appreciation. He compared XRP to the US dollar, noting that while the dollar is a highly effective medium of exchange, its utility alone does not drive long-term investment demand. Brandt also criticized the perceived “cultish” nature of the XRP investment community.

For portfolio allocation, Brandt recommends a Bitcoin-centric approach, suggesting stable investors might allocate approximately 5% to Bitcoin and 5-10% to the broader crypto market. He expressed more positive sentiment toward Ethereum and Solana as platform-based assets compared to XRP.