Veteran trader Peter Brandt has issued a sobering forecast for XRP, suggesting the cryptocurrency could experience a sharp decline, potentially dipping as low as $1.07 in the near future. This projection is largely based on a technical analysis pattern known as the head and shoulders, which often signals a reversal in price trends.
Brandt, who has decades of experience analyzing markets, shared his view on social media, highlighting that XRP’s recent price movements show signs of weakening momentum. Despite a modest 5% gain over the past month, he warns that XRP’s upward run may be coming to an end. According to him, the classic head and shoulders formation appearing on XRP’s charts points to a potential sell-off, which could drive prices well below the $2 mark and even test levels close to $1.
Currently, XRP is trading around $2.30, a level Brandt describes as range-bound, indicating uncertainty in the market. He emphasized key price thresholds to watch: if XRP manages to break above $3, it could trigger a correction downward, while a drop below $1.90 may accelerate losses, pushing the price toward the $1.07 target he forecasted. Brandt is clear that this analysis is purely technical and that he holds no personal stake in whether XRP rises or falls.
This bearish outlook contrasts sharply with some of Brandt’s earlier, more optimistic predictions that saw XRP reaching as high as $27 within 60 days—highlighting just how quickly market dynamics can shift in crypto trading.
Despite the cautionary technical signals, the fundamentals surrounding Ripple and XRP continue to show promise. For one, the push toward an XRP exchange-traded fund (ETF) remains strong, with the chances of approval climbing by 83% in recent weeks—even though the U.S. Securities and Exchange Commission (SEC) has delayed decisions on multiple applications from firms like Bitwise, Grayscale, and Coinshares.
In the meantime, market enthusiasm has been boosted by the launch of Volatility Shares’ 1x XRP futures ETF, the first of its kind, which could pave the way for eventual spot ETF approval. Such products often help bring institutional investors into the fold, providing new liquidity and stability for the asset.
Technological upgrades also contribute to Ripple’s positive outlook. The upcoming batch update to the XRP Ledger aims to enhance its competitiveness against major smart contract platforms such as Ethereum and Solana. This technical development was met with favorable market response, pushing XRP prices higher and reflecting investor confidence in Ripple’s long-term viability.
Adding to the positive momentum, Ripple’s social media presence has surged to a three-month peak, driven by a series of new partnerships and acquisitions. This buzz keeps the community engaged and optimistic, especially as legal proceedings with the SEC inch toward a resolution. While Judge Torres’ recent ruling in the Ripple case has introduced some uncertainties, many in the market remain hopeful that clarity will arrive soon, further fueling XRP’s potential.
In summary, while Peter Brandt’s technical analysis warns of a possible steep drop in XRP’s price, the broader context paints a more balanced picture. The cryptocurrency faces significant short-term risks based on chart patterns, but ongoing developments in regulation, technology, and community support suggest that Ripple’s fundamentals remain strong. Investors should watch these contrasting signals closely to navigate the complex and fast-moving XRP landscape.
