The psychological $1 level, closely guarded by XRP holders, has just been breached. On August 16, 2026, the price of XRP briefly slipped past that lower boundary before eventually bouncing back to the surface. This sudden drop saw the cryptocurrency’s value plunge about 72.6% from its temporary peak when it was traded below $1. According to CoinGecko data records, XRP’s glory days with an all-time high of $3.65 passed on July 17, 2025. Currently, the cryptocurrency lags about 71% below its record price.
The Veteran’s Flat Rejection
Amid the gloomy price action, veteran trader Peter Brandt did not hold back his criticism. In a tweet on the X platform, Brandt asserted his position of having no interest in holding XRP in his portfolio. He even threw out a specific scenario as proof: if he were given 500,000 XRP tokens for free, he would immediately exchange them for Bitcoin (BTC).
A stash of 500,000 XRP is no small amount. Referring to the price level of $1.059, that many coins hold a value of around $529,500. If that half-million dollars were fully converted to Bitcoin today, the trader would pocket approximately 8.4 BTC. Brandt’s sharp rejection of XRP already has a track record. Going back to March 2025, he dissected the XRP chart and identified a technical head and shoulders pattern. At that time, he projected this pattern could drag the XRP price down to a target range of $1.07 - a prediction that has proven to align with today’s movement.
Whale Inflows Plunge to 2021 Lows
While technical analysts read the charts, on-chain data also reveals a shift in the interest of large players. A technical indicator from CryptoQuant compiled by contributor Darkfost recorded shrinking numbers: the three-month average of XRP whale inflows to the Binance exchange has shrunk to just $61 million. This figure marks the lowest level of whale activity recorded since 2021.
The contrast is immediately clear when looking back at historical data. For comparison, XRP whale inflows reached $456 million in January 2025. Even as recently as last October, the volume managed to hold at $355 million. This drastic shrinkage in coin inflows to the exchange brings a positive side as it indicates that selling pressure from large holders is starting to ease. Nevertheless, low exchange inflows are never a guarantee that the price will immediately rise, especially without the support of new buying momentum.
Not Just XRP on the Radar
Brandt’s cautious stance apparently does not stop with his rejection of altcoins. He has also raised alarms for Bitcoin’s price movement. Brandt expects Bitcoin could fall and retest the $58,000 area, triggered by a large head and shoulders pattern experiencing a breakdown. Although his projection sounds a warning, he admitted he is still merely monitoring and has not entered the market to execute that trading position.
For XRP holders, this chain of events forces them to face market realities. The asset they hold is still stuck 71% below its peak. Bouncing from the $1 limit may bring temporary relief, but the real challenge is how to win back the capital flows that are now slowly vanishing from sight.
Reported from crypto.news.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
