XRP briefly slipped below the important $1 level on Aug. 16 before recovering and moving back above it during a volatile day in the cryptocurrency market.
At the same time, veteran trader Peter Brandt once again made it clear that he is not a fan of XRP. In a post on X, Brandt responded to a user by saying he had no interest in owning the token. He added that if he were given 500,000 XRP, he would immediately convert it into Bitcoin.
Brandt’s comments reflected his personal preference for Bitcoin rather than a new trade or investment decision. He did not reveal owning XRP or announce any new market position.
During Sunday’s trading session, XRP briefly fell below $1 before rebounding to around $1.06. The drop attracted attention because $1 is seen by many traders as a major psychological support level. While the timing of Brandt’s comments and XRP’s decline happened close together, there is no evidence that his remarks caused the price movement.
Even after the recovery, XRP remains far below its all-time high of $3.65, which was reached in July 2025. The current price leaves the token down by more than 70% from that record level.
Brandt’s latest criticism is part of a long-running debate between him and XRP supporters. Over the years, he has frequently questioned the token’s outlook and often expressed a stronger preference for Bitcoin.
Back in March 2025, Brandt pointed to a bearish chart pattern and suggested XRP could fall toward the $1.07 area if support levels failed. More than a year later, XRP eventually traded close to that level. However, market conditions changed significantly during that period, and the move cannot be directly linked to that earlier prediction.
His support for Bitcoin should not automatically be viewed as a bullish forecast for the cryptocurrency either. Brandt has also warned about potential downside risks for Bitcoin in the past and often presents multiple market scenarios rather than firm predictions.
Meanwhile, blockchain data shows a potentially important trend for XRP. Recent research indicates that large XRP holders, often referred to as whales, have been sending much less XRP to Binance compared with previous years.
The three-month average of whale inflows to Binance has reportedly dropped to around $61 million, the lowest level since 2021. Lower exchange deposits can sometimes suggest reduced selling pressure because fewer tokens are being moved onto trading platforms. However, it does not guarantee higher prices, as market demand remains an equally important factor.
For traders, the biggest question now is whether XRP can hold above the $1 level after its recovery. A brief move below a key support level does not automatically signal a long-term breakdown. Investors will likely be watching price action, trading volume, and overall market sentiment to see whether the recovery can continue.
For now, the facts remain straightforward: XRP briefly dropped below $1 before bouncing back, whale transfers to Binance have fallen to multi-year lows, and Peter Brandt continues to favor Bitcoin over XRP despite the token’s recent price decline.
