While the crypto community remains hopeful for XRP’s continued growth, renowned trader Peter Brandt is raising a red flag. According to his technical analysis, the price of XRP could soon fall to $1.07, citing the emergence of a classic head and shoulders pattern that typically signals a trend reversal.
🔹 Brandt Predicts a Trend Reversal for XRP
Peter Brandt, one of the most experienced traders in global markets, recently shared his outlook for XRP on social platform X (formerly Twitter). He pointed out a forming head and shoulders pattern on the price chart that may indicate an impending downturn.
“XRP is forming a textbook head and shoulders pattern,” Brandt wrote. “I have no personal stake in the direction, but if the pattern plays out, the price could fall to $1.07.”
Currently, XRP trades around $2.30, which would imply a nearly 55% drop from current levels. Brandt adds that a break below the $1.90 support zone would confirm the bearish scenario and open the door to further declines.
🔹 Contradicting Previous Bullish Forecasts
Brandt’s latest comment contrasts with earlier optimistic forecasts. Some analysts recently projected that XRP could reach $27 within 60 days. However, those bullish projections now appear to be at odds with the current technical setup.
“Don’t shoot the messenger. The H&S projection points to $1.07,” Brandt remarked to his followers.
🔹 Ripple Fundamentals Remain Strong
Despite the bearish technical setup, Ripple’s fundamentals remain solid. There is increasing anticipation around XRP-based ETFs, which could gain approval from the U.S. Securities and Exchange Commission (SEC), potentially boosting demand for the token.
While the SEC has delayed decisions on several XRP ETF proposals (including Bitwise, Grayscale, and Coinshares), Volatility Shares has already launched the first-ever 1x XRP futures ETF, stirring excitement about spot-based products.
In addition, a new batch update to the XRP Ledger has improved Ripple’s competitiveness with platforms like Ethereum and Solana. The announcement has boosted XRP’s price and social media engagement – mentions of Ripple surged to a three-month high due to a series of partnerships and acquisitions.
🔹 Will Technicals Win Over Fundamentals?
XRP is at a crucial turning point. On one hand, there’s Peter Brandt’s bearish outlook predicting a fall to $1.07. On the other, there are several positive fundamental developments that could help the price hold its ground or climb higher.
Will the chart pattern prevail, or will Ripple’s strong fundamentals override the warning signs?
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