Peter Brandt plans to put $100,000 into either XRP or Solana and has narrowed down his choice to just these coins.
A symmetrical triangle is seen for XRP on the technical charts, while Solana appears in a cup-and-handle shape.
The high demand from institutions and their preferred status in the market have made both tokens leaders in developing U.S. exchange-traded products.
Outspoken trader Peter Brandt may soon dump XRP for Solana, a possibility highlighted by his considering a $100,000 bet on either cryptocurrency. Brandt, who was once critical of XRP, now seems to think both bitcoin and XRP are moving in positive directions, based on their charts.
The well-known investor Brandt asked his audience to vote on which of the two crypto assets they favored. He revealed that he plans to stick with either XRP or Solana for now, leaving out all other digital coins.
Both coins have trended upwards according to technical analysis.
A symmetrical triangle covers Brandt’s XRP price chart and in December 2024, there will be a successful breakout and rise that follows. Because this formation typically shows an uptrend, it attracts traders who might take advantage of it.
Meanwhile, Brandt’s chart of Solana shows a Cup and Handle formation. It took until late 2021 for the "cup" to take shape and it was done by the middle of 2024, analysis shows. The "handle" appears to have begun in late 2024 and will continue in 2025. Based on the data, he predicts that the price for SOL can range from $518 to $707.
Investors are surprised by Brandt’s new view on XRP.
That Brandt is considering XRP is remarkable given his past views. He has called XRP a fraud before and explained how it would collapse. Still, he tried to smooth things over in January 2023, talking about problems with the XRP community.
CoinGecko ranks XRP as fourth by market capitalization, compared to Solana that comes in at sixth. Tokens from both currencies may become part of spot ETFs in the US, according to analytics company Kaiko. As a result, there is a legal aspect that could affect Brandt’s choice.
The introduction of regulated futures for both XRP and SOL by CME Group proves that more institutions are interested in these digital currencies.
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