XRP briefly slipped under $1 during Sunday's volatile session before rebounding toward $1.06. The dip came as veteran trader Peter Brandt renewed his criticism of the token, saying he would rather hold Bitcoin than a large XRP position. Separately, Binance whale inflows for XRP have fallen to their lowest level since 2021.
XRP rebounds after brief break below $1
XRP traded below $1 on Aug. 16, with a CoinGecko snapshot showing the token near $0.9993, before a later market check put it around $1.059. Bitcoin was trading near $62,926 at the same time.
The move leaves XRP about 71% below its record price, which CoinGecko places at $3.65 on July 17, 2025. Earlier Sunday, while trading under $1, the same data source showed XRP as much as 72.6% below that peak.
Brandt says he would rather hold Bitcoin
Brandt made his remarks in an X post after another user challenged his views on the token. According to crypto.news: "I would convert it immediately to BTC", he wrote of a hypothetical 500,000 XRP position. At $1.059, that position would be worth about $529,500. It would equal roughly 8.4 BTC at current prices. Brandt did not say he actually holds such a position, and he has not published a new XRP price target alongside his Aug. 16 comments.
A long-running debate over XRP's outlook
Brandt's post continues a dispute he has waged with XRP supporters for some time. In March 2025, he identified what he called a head and shoulders pattern, arguing XRP could fall toward $1.07 if support failed. A move above $3, he said, could invalidate the bearish structure. XRP has since traded near the level he identified, though that alone does not confirm his chart caused or predicted the decline. His preference for Bitcoin also should not be read as a bullish Bitcoin call: Brandt separately said Bitcoin could revisit roughly $58,000 after a large head-and-shoulders breakdown, while explicitly noting he had not entered that trade.
Whale transfers to Binance hit a multiyear low
Onchain data shows one gauge of potential selling pressure has fallen sharply. CryptoQuant contributor Darkfost reported that the three-month average of XRP whale inflows to Binance had declined to about $61 million, its lowest level since 2021. That compares with $456 million in January 2025 and $355 million in October. Lower exchange deposits can point to less potential sell-side supply, though they do not guarantee higher prices if demand weakens too. XRP had already been testing the $1 level before Brandt's comments, with futures positioning increasing as traders watched whether the support would hold.
A brief move below $1 does not by itself confirm a longer-term breakdown. Traders would need further price action, volume and market structure evidence before treating Sunday's dip as durable.
Source: crypto.news
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