Ripple Price Predicted to Move Significantly by Expert Trader Peter Brandt

  • Darryn Pollock
    🤷 Opinions

    Expert trader and author, Peter Brandt, has said that XRP is “definitely coiling up” suggesting a big move soon

Ripple Price Predicted to Move Significantly by Expert Trader Peter Brandt
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Well-regarded trader and author Peter Brandt has posted an analysis of cryptocurrencies on his Twitter account, stating that he sees Ripple ‘coiling up’. However, he has also taken a swipe at rival Stellar, calling it “basically worthless” based on the technical analysis of the graphs.

Brandt is no stranger to commodities trading, or no fool when it comes to cryptocurrency trading either as he famously predicted last year’s Bitcoin and crypto price plunge before it happened. In his January 2018 tweet, he warned traders about the imminent crash.

XRP coiling up

Brandt, after calling Stellar basically worthless and explaining why with technical analysis, was asked by a trader to give his thoughts on Ripple and the XRP token. It was here where he said that XRP is “definitely coiling up.” This indicates that the price of XRP is expected to make a big move soon.

However, one needs to fully understand what coiling up means in a trading and technical analysis sense. Coiling up is related to the trading signal that is an indicator of volatility and not bullish or bearish moves.

“Coiling action does not predict future price direction! Please make note of that fact and reread that previous sentence if you must, in order to permanently understand what coiling action does not attempt to signal or portray. Coiling action is predicated on the volatility of a stock and is not in any way a harbinger of future price direction,” it is explained by TheStreet.

However, if the general pattern of cryptocurrencies is to be believed, it would be easy to assume that the movement from Ripple could well be up. There has been some positive news surrounding Ripple as it makes a play to replace SWIFT.

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Not good news for Stellar

If the evidence is positive surrounding XRP on the technical side, and it is backed up by partnerships and other good news, then it does not spell good things for Stellar.

Brandt explained that because of its difficulty in testing resistance, he predicts that XLM is “basically worthless”.

This also flies in the face of other Stellar predictions, some of which are seeing the coin rising by as much as 84 percent by February 1st. However, this report is more speculative than based on any substantial fundamentals.  

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XRP Price Surging in Bullish Trend: Did Forbes 50 List Boost Ripple to Be Taken Seriously?

  • Jack Thomas
    🤷 Opinions

    XRP is seeing some good gains, but could it be because Forbes has listed it among other major billion dollar companies in blockchain?

XRP Price Surging in Bullish Trend: Did Forbes 50 List Boost Ripple to Be Taken Seriously?
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Ripple, and its XRP token, have always had a hard time being taken seriously by the Bitcoin maximalists and other ‘true’ crypto aficionados. The company has been focused on partnering with banks, which has been for a long time the scourge of the crypto market.

However, there has been a change in the sentiment around cryptocurrency and blockchain, with media houses like Forbes calling 2019 the year of enterprise blockchain, and one of rebuilding after the speculative boom and bust in 2017/2018.

Forbes has now produced a prestigious list of 50 enterprise business valued over $1 billion that are doing good things with blockchain and crypto, and Ripple is one of the few startups that are on the list. Ripple finds itself in the company of businesses like Microsoft, IBM, BP, Amazon and other multinational conglomerates.

A reputation boost?

So, while XRP and Ripple have been mostly viewed with suspicion within the cryptocurrency community, it could be that their appearance to the mainstream through the lense of Forbes is a lot better and brighter.

The blockchain list by Forbes is intended to inform about how much enterprise use of blockchain is actually going on from major companies, and some companies many would never have thought were involved in the technology.

There is no doubt that it is a boost for the technology underpinning cryptocurrency, but it would seem that even the XRP token is receiving a boost from this unearthing of institutionalised interest.

Price prediction?

This legitimizing boost has been reflected in XRP’s increase in value of over six percent, but looking ahead, it appears as though there is chance for a bigger boom.

This upwards move firmly established XRP’s support level around $0.32, so one analyst believes that it may continue surging towards $0.48 in the near-future.

Ryan W, a popular cryptocurrency analyst, spoke about this possibility in a recent tweet, noting that XRP does face resistance levels at $0.38, $0.44, and $0.50, but also explaining that he expects the crypto to garner enough upwards momentum to break above at least two of these resistance levels with a price target set at $0.48.

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