Famous Trader Peter Brandt Claims an XRP Competitor Might Become a ‘Star,’ Reveals Big Price Goal for Silver

Peter Brandt Shares Insights on Crypto and Silver

Veteran trader Peter Brandt notes that certain payment-focused cryptocurrencies could stand out, specifically predicting significant growth in silver.

In a recent message to his 803,900 followers on social media platform X, Brandt expressed a rather pessimistic view on most cryptocurrencies, suggesting that many will ultimately become worthless. However, he highlighted that Stellar (XLM), a competitor to XRP, could emerge as a “rockstar.”

“I believe, honestly, that 95% of the 11,000 active coins will eventually fade away, with many already considered ‘dead.’ Even now, about 3.7 million coins have disappeared,” he stated. “Looking at the data, it seems only half of the most actively traded cryptocurrencies are maintaining even 10% of their peak value. But XLM, that one has potential.”

Analyzing Brandt’s charts, he hinted that XLM might be on the verge of breaking out of a significant triangle pattern seen in monthly assessments. His targets for XLM appear to be around $1.51.

As of now, XLM is trading at approximately $0.452, reflecting a minor drop during the day.

Brandt also commented on silver prices, stating that if certain resistance levels are crossed, silver could soar to levels nearly double that of its highest price in 1980.

“Here’s what my long-term silver chart looks like. It’s not exactly a cup and handle pattern, but it indicates a possibility of reaching $95 per ounce if it surpasses existing resistance,” he pointed out.

He believes silver really should hit around $100 per ounce to align with other assets’ growth.

“Just to be clear, I’m bullish on silver. My last major prediction about silver was back in 2011 when prices peaked at $50 per ounce. It’s been quite a ride for silver over the last 14 years. It needs to catch up to other markets really,” Brandt added.