Ah, the ever-volatile world of cryptocurrency! Our dear veteran trader, Peter Brandt, has donned his crystal ball and predicted that XRP might just plummet to a rather dismal $1.07. How charming! This forecast, of course, is based on the classic head and shoulders (H&S) pattern—because who doesn’t love a good trend reversal? 🎩
In a rather cheeky post on X, Brandt mused that XRP’s recent jaunt upwards, which saw a delightful 5% gain last month, is about to hit the brakes. Unless, of course, XRP decides to break the $3 barrier, it seems destined to remain in its cozy little range. How quaint! 🏡
Updating a chart for those interested
I have no vested interest up or down. $XRP is forming a textbook H&S pattern.
So, we are now range bound.
Above 3.000, I would not want to be short.
Below 1.9, I would not want to own it.
H&S projects to 1.07.
Don’t shoot the messenger!— Peter Brandt (@PeterLBrandt) March 26, 2025
Should XRP dip below $1.90, we might be in for a rather dramatic slump. “H&S projects to 1.07. Don’t shoot the messenger,” Brandt quipped, assuring us he has no skin in this game. How noble! 🕊️
Interestingly, this rather gloomy forecast stands in stark contrast to a recent prediction that XRP could soar to a staggering $27 within a mere 60 days. Oh, the irony! 🎢
Despite the ominous technical signals, Ripple’s fundamentals are strutting about like a peacock. The odds of an XRP ETF approval have skyrocketed by 83%, even with the U.S. SEC playing hard to get. Volatility Shares has already launched the first 1x XRP futures ETF, which is just delightful for those with a penchant for optimism! 🌈
Ripple is gaining popularity, thanks to some rather impressive upgrades and new partnerships. The latest update to the XRP Ledger is designed to help Ripple compete with the likes of Ethereum and Solana. As a result, XRP has seen a little bounce, and chatter about it is buzzing on social media like bees in spring! 🐝
So, while Brandt’s analysis may send shivers down the spine, Ripple’s ascent and institutional interest could very well save the day. Now, traders are on the edge of their seats, eager to see which factor—technical or fundamental—will reign supreme. What a delightful spectacle! 🍿
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2025-05-26 08:21