Peter Brandt, an experienced market analyst, shared his latest analysis regarding Ripple (XRP). He highlighted important points concerning the potential price dynamics of Ripple.
Analysis by Peter Brandt
Brandt noted that he is bullish on XRP in early 2025. The analyst pointed out the formation of a classic head and shoulders pattern on XRP's weekly chart.
Formation of Head and Shoulders
Peter Brandt warned XRP investors about the head and shoulders pattern, which generally indicates a transition to bearish momentum. He predicted that the price could fall below $1.80. According to his analysis, the pattern began forming in late 2024, with the left shoulder formed in December when XRP reached $2.9, the head during a surge to $3.4 in January 2025, and the right shoulder during a rally to $2.65 in May 2025.
Critical Levels for XRP
At this point, XRP is trading just above a significant level at $1.875. Brandt emphasized that although a head and shoulders pattern has formed on the XRP chart, this does not necessarily mean that the XRP price will inevitably fall. He noted that XRP is in a critical zone, close to the neckline at $1.87. The analyst stated that he would re-evaluate his analysis if XRP closed below the $1.8 range on the weekly chart. A close below $1.8 could confirm the head and shoulders pattern and invite a price crash.
The situation with XRP remains tense, and the next price movement may depend on the $1.8 level. The market is closely watching the developments.
