Veteran technical analyst Peter Brandt has warned that the price of XRP could drop sharply by 50–55%, down to around $1.07, if the current 'head-and-shoulders' pattern on the price chart is confirmed.
📉 Peter Brandt's bearish forecast
• Technical pattern: Brandt points out the formation of a 'head-and-shoulders' pattern on the XRP price chart, which often signals a trend reversal from bullish to bearish. If this pattern completes, the price of XRP could drop to $1.07.
• Conditions to avoid deep declines: Brandt notes that if XRP firmly breaks through the resistance level of $3, this bearish pattern could be invalidated, opening up the possibility for further price increases.
📈 Previous bullish outlook
Earlier, in January 2025, Brandt predicted that XRP could reach a market capitalization of $502 billion, corresponding to a price range of about $9–10, based on a 'bull flag' pattern on the weekly chart.
⚠️ Conclusion
Peter Brandt's forecast indicates uncertainty in the current price trend of XRP. Investors should closely monitor key support and resistance levels, especially around the $3 area, to make informed investment decisions.