✨XRP Headed for a Drop? Veteran Trader Warns of $1.07 Target 🚨📉
Veteran chart analyst Peter Brandt has issued a bearish call on XRP, suggesting that a classic Head and Shoulders pattern could send prices tumbling down to $1.07. According to Brandt, this technical setup often marks the start of deeper corrections — and XRP might not be immune. 🧠📊
The chart pattern shows a weakening momentum after XRP failed to break key resistance, forming what looks like a clear neckline around current price levels. If broken, this could trigger a steep decline. ⚠️
But it's not all doom and gloom. Despite this bearish short-term view, XRP fundamentals remain strong:
Ripple continues to expand globally, pushing adoption in the payment sector 🌍
Progress in legal battles has brought clarity, supporting long-term investor confidence ⚖️
On-chain data shows consistent holder accumulation and solid utility trends 📈
So, while the technical outlook flashes red, the macro narrative for XRP stays green.
Will the pattern play out — or will fundamentals override the charts? 🧐
