Peter Brandt Marks the Danger Zone of $XRP with Flashing Breakout Signal

Veteran trader Peter Brandt warns that XRP could fall to $1.07, citing a typical head and shoulders pattern forming as the price hits a key support level near $1.90. Peter Brandt Identifies Classic Reversal in XRP as Tensions Rise at Key Level Veteran trader Peter Brandt provided his updated analysis on XRP on Wednesday, outlining a bearish outlook based on classic chart patterns. Brandt noted that the cryptocurrency token is currently locked in a trading range and forming a head and shoulders pattern (H&S), a pattern that can be interpreted as a sign of an impending downward move. Sharing his observations on the social media platform X, he stated: XRP is forming a head and shoulders pattern according to textbook. Therefore, we are currently constrained within the range. The head and shoulders pattern, known for its three peaks structure, is widely regarded in technical analysis as a reversal indicator signaling a shift from bullish momentum to bearish momentum when a crucial support level or "neckline" is broken. According to Brandt, the neckline is near $1.90—a level that XRP must hold to avoid deeper losses. If that support is broken, the forecasted pattern will move to $1.07. He defined the current area of interest by stating: Above 3,000, I do not want to short sell. Below 1.9, I do not want to own it. H&S forecast is 1.07.

Brandt's chart shows that XRP fluctuates between a resistance level at $2.9990 and a support level at $1.9000, with the most recent price seen around $2.45. The expected fall is $1.0714, marked on the chart, reflecting a technical target derived from the height of the head and shoulders pattern. Brandt, anticipating criticism from the XRP online community, stated: "Don't shoot the messenger." He further explained: "I have no inherent interest either way." Despite the frequent backlash from XRP supporters, Brandt maintains a considered viewpoint based on data about cryptocurrencies. His focus is on price action rather than the sentiment or fundamental factors of the token. Reflecting his neutral stance, Brandt previously said on X: "To be clear: I don't care what XRP does. If it rises, I want to buy long. If it falls, I have never shorted it." Meanwhile, recent developments have shifted to a bullish trend for XRP as Ripple settles the lawsuit with the (SEC) with a reduced fine of $50 million, clearing a major legal cloud. Institutional interest is on the rise, notably with 21Shares recently listing an XRP ETP on Nasdaq Stockholm and Ripple CEO Brad Garlinghouse expressing confidence in a future XRP ETF in the U.S. Contributing to this momentum, President Donald Trump has named XRP as one of the cryptocurrency assets included in the U.S. strategic cryptocurrency reserve, signaling increasing support from politics and institutions.