Peter Brandt Dubs XRP a ‘Fool Coin’ Ahead of 473 Million Nasdaq Listing: Does Utility Matter for Its Price?
Brief Overview
Brandt claims that XRP’s payment structure reduces the amount of the token needed to be held at any given time, suggesting that its utility doesn’t elevate its price.
XRP has decreased by 50% in the last year, compared to Bitcoin’s 30% decline, shrinking a $1,000 investment to around $504.
Evernorth’s listing of 473 million XRP on Nasdaq does not introduce new buyers but reorganizes existing tokens. Additionally, Ripple’s scheduled escrow releases contribute ongoing supply pressure.
In September, seasoned trader Peter Brandt labeled XRP (CRYPTO:XRP) as a “fool’s coin,” arguing that a token aimed at facilitating fast and cost-effective payments does not inherently make it a worthwhile investment. His assessment came shortly before Evernorth’s 473 million XRP began trading on Nasdaq with the ticker XRPN set for October 8.
As of October 2, XRP’s value is $1.52, reflecting a drop of approximately 58% from its peak of $3.65 in July 2025. This raises a key question: does XRP’s payment efficiency influence its price potential, or is Brandt right in assuming that utility and investment appeal are separate concepts?
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Peter Brandt Suggests XRP’s Utility Does Not Translate to Investment Worth
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Brandt admits that XRP is capable of enabling swift and low-cost transactions. Nevertheless, his main point asserts that a token’s payment features don’t inherently enhance its monetary value.
For instance, when a payment company utilizes the On-Demand Liquidity service, it converts dollars to XRP, transfers it across the XRP Ledger, and subsequently converts it into another currency. The expeditiousness of the transaction means less XRP is required at any moment. Significantly, XRP holders do not receive transaction fee profits or Ripple’s earnings, indicating that XRP’s price is contingent more on holding demand than usage.
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Brandt’s standpoint is particularly notable, as he is not generally skeptical about cryptocurrencies. He has predicted a potential rise of Bitcoin (CRYPTO:BTC) to $600,000 by 2029, and anticipates increases for both Ethereum (CRYPTO:ETH) and Solana (CRYPTO:SOL). In contrast, he has positioned XRP unfavorably within the crypto market.
XRP Lags Behind Bitcoin, Ethereum, and Solana Over 90 Days and a Year
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In the 90 days leading to October 1, XRP experienced a 31% increase and a 10% uptick in the past month, indicating some ongoing interest from buyers. Nonetheless, during the same timeframe, Bitcoin rose 33%, Ethereum 53%, and Solana 43%. This suggests XRP’s uptick is not maintaining pace with these leading cryptocurrencies and is likely more aligned with market trends.
Long term, XRP’s performance remains underwhelming. It has fallen approximately 50% in the past year, while Bitcoin has only dropped by 30%, Ethereum by 38%, and Solana by 47%. Thus, XRP is the weakest performer of these four cryptocurrencies.
To give an example, an individual who invested $1,000 in XRP a year ago would find their holdings worth about $504 today, while the same investment in Bitcoin would yield approximately $703. Many XRP investors who purchased when values were above $2.75 are still awaiting a price recovery.
Evernorth’s 473 Million XRP Listing Provides Access without New Buyers
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On September 30, shareholders of Armada Acquisition Corp. II approved the merger with Evernorth, which is slated to finalize on October 7. At the current rate of $1.52, Evernorth’s 473 million XRP holds an estimated value of around $719 million.
However, this listing merely reshuffles existing coins rather than introducing new buyers. Since Evernorth already owns the coins, the Nasdaq debut does not promise new investments unless the company opts to buy more XRP.
Moreover, with about 63 billion of XRP’s total 100 billion supply in circulation and Ripple holding a significant portion in escrow (which releases tokens periodically), any newly released tokens that are sold increase supply that prospective buyers must manage.
Does Payment Functionality Affect XRP’s Market Value?
Currently, the payment functionality seems to have a limited impact on XRP’s price, supporting Brandt’s viewpoint. While XRP saw an uptick alongside the overall market, it continues to fall short against Bitcoin, Ethereum, and Solana over the past 90 days, and has performed the worst over the previous year, indicating that its value may be more influenced by market sentiment than by actual utility.
Unfortunately for XRP investors, this suggests that they may need to exercise patience before its utility truly impacts its price. As Evernorth’s Nasdaq introduction approaches, should it report holding more than 473 million XRP post-October 8, funded by new investments, it could indicate fresh capital entering the market. Additionally, if XRP exceeds $1.66, its high from September 23, it may show that buyers are moving beyond prior resistance levels.
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