On Jan. 23, Peter Brandt took to Twitter to show his dissatisfaction with the way U.Today covered his recent analysis pertaining to XRP. The legendary trader believes that his words were misinterpreted, and XRP is not up to a big move (at least, not in his predictions).
The initial U.Today article mentioned the fact that the expression ‘coiling up’ was used from the perspective of technical analysis (thus, it should not be taken literally).
Coiling up is related to the trading signal that is an indicator of volatility and not bullish or bearish moves.
Coiling action is predicated on the volatility of a stock and is not in any way a harbinger of future price direction
However, the author of the article still assumed that there indeed could be a price spike due to positive news surrounding the second biggest cryptocurrency by market capitalization.
If Mr. Brandt’s opinion was represented in the wrong way, U.Today apologizes for doing so. Our online publication stands for objective and fair-minded journalism.