XRP Rebounds Above $1 as Peter Brandt Dismisses Token Utility

The token briefly dipped to $0.9993 on Sunday before recovering to approximately $1.06, a move that occurred independently of Brandt’s public dismissal of the asset. Brandt, who has tracked markets since 1975, stated in an X post that he holds no interest in owning XRP, favoring a futures-based strategy instead. At current valuations, the position he discussed would be worth roughly $529,500, or about 8.4 BTC. His remarks continue a long-standing pattern of skepticism toward the asset, echoing a March 2025 analysis where he identified a bearish head-and-shoulders formation.

Market Dynamics and Whale Activity

Despite the price volatility, on-chain data suggests a shift in exchange-related supply. CryptoQuant reports that the three-month average of XRP whale inflows to Binance has dropped to $61 million, marking the lowest level since 2021. While lower inflows can signal reduced immediate sell-side pressure, market participants remain cautious, as the token currently sits 71% below its July 2025 record high of $3.65. Traders are now monitoring whether the asset can maintain its footing above the $1 psychological barrier, as the recent recovery has yet to be backed by sustained volume or a definitive shift in broader market structure.