Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
There are moments on the market when patterns emerge so clearly that even the most skeptical traders take notice. For Peter Brandt, one of the most respected figures in technical analysis, this appears to be one of those moments - at least when it comes to XRP.
Without leaning into personal predictions or emotional stakes - even though Brandt is known as an XRP skeptic - the expert trader has shared an updated chart, pointing to a textbook head and shoulders formation that could define the cryptocurrency’s next move.
Alex DovbnyaXRP, the third-largest cryptocurrency by market capitalization, has found itself in a tightly confined range. The way Brandt sees it, anything above $3 is a dangerous zone to short, while dipping below $1.90 could spell trouble for holders.
Then there is the pattern projection: a potential target of $1.07, if the head and shoulders play out as expected.
His chart, which is attached to his update, makes everything clear: there is no need for hidden messages. It is just a straightforward technical view, based on the data.
For anyone who is curious, XRP's all-time high is still at $3.40, which feels like ancient history at the moment.
Gamza KhanzadaevThere is no attempt to persuade anyone here, no call to action. It is just a look at the market, a nod to how patterns usually behave and a little acknowledgement to those who understand what these formations usually mean.
Markets move, traders react and patterns tell their own stories. Whether XRP follows the textbook path or defies expectations, Brandt has simply pointed at the chart and let the numbers speak for themselves.
Vladislav Sopov
Dan Burgin