Renowned trader Peter Brandt, active in financial markets since the 1970s, continues to share his insights with crypto investors. His current focus is on key technical developments in XRP.
XRP Prospects According to Peter Brandt
XRP, a long-standing player and the fourth-largest cryptocurrency by market cap, recently caught Brandt’s attention due to a key technical formation.
Head and Shoulders Pattern Formation
The trading expert pointed to a head-and-shoulders formation taking shape in XRP’s price action. According to his analysis, the pattern hints at two possible targets: a bullish breakout to $3 or a bearish fall to $1.07.
Market Implications
Brandt emphasized that unless XRP decisively breaks above the $3 resistance, the technical outlook suggests a significant drop is likely — all the way to $1.07. This would represent a near 50% decline from its current price, potentially erasing close to $60 billion from XRP’s current market cap of $121 billion.
Whether this grim forecast materializes remains uncertain, but Brandt believes the risk is very real.
