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XRP Forming Potentially Constructive Long-Term Pattern: Savvy Trader Peter Brandt

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Thu, 09/16/2021 - 07:36
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Yuri Molchan
Legendary trader has posted a "potentially constructive long-term chart" for XRP
XRP Forming Potentially Constructive Long-Term Pattern: Savvy Trader Peter Brandt
Cover image via www.peterlbrandt.com

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Veteran commodity trader Peter L. Brandt has taken to Twitter to congratulate those who have invested in altcoins at an early stage and made large profits by now, thus admitting that he is "a dinosaur in a new game."

Below that tweet, as if to underscore his statement about altcoins, he shared a screenshot of an XRP chart that shows a "potentially constructive" pattern for this coin.

XRP forms an Inverse Head and Shoulders

The seasoned trader has posted a chart that shows that the sixth-largest cryptocurrency, XRP, is forming an Inverse Head and Shoulders pattern. Potentially, Head and Shoulders (either a regular or inverse one) is followed by an asset reverse when it starts moving in the opposite direction.

In this particular case, Brandt says that, in the long term, XRP is potentially headed North.

Brandt sends apologies to early altcoin investors

In the root tweet, the trader apologized to all early altcoin investors he has ever shown disrespect to. He sent congratulations to them on a "job really well done" and calling them the best representatives of a new generation of market speculators.

The screenshot of the aforementioned XRP chart came as a response to a suggestion that Peter should jump on the XRP train.

Related
LTC Demonstrates “Popcorn Rally”, Legendary Trader Peter Brandt Says

Peter Brandt's mixed feelings about XRP

Previously, Brandt has demonstrated disdain multiple times for the Ripple-affiliated currency and urged the SEC to proclaim it a security long before the regulatory agency initiated its lawsuit against Ripple over the same issue in late December 2020.

This year, however, the veteran commodity trader has several times posted bullish tweets on XRP.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.