While some aim for an increase in XRP to the $3 mark, a recent warning has resonated in the community:
veteran trader Peter Brandt predicts a possible drop in the asset’s price to $1.07. The analyst based his prediction on the formation of a classic Head and Shoulders (H&S) pattern on the XRP chart, a strong bearish signal.
XRP has seen a sharp pullback today, breaking out of the $2.45 zone to trade around $2.30.
At press time, the price of XRP was trading at $2.31, down 5.4% over the past 24 hours. The drop took the asset’s weekly losses to over 7%.
Amid this scenario, expert Brandt noted in his technical analysis that XRP has been oscillating in a price range between $1.90 and $3.
However, the formation of the H&S pattern is suggesting a potential reversal of the bullish trend to a bearish trend for the cryptocurrency.
“$XRP is forming a textbook H&S pattern.
So right now we are range bound Above 3.000, I wouldn’t want to be short Below 1.9, I wouldn’t want to own it H&S projects to 1.07,” he wrote.
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 wouldn’t want to be short Below 1.9 I wouldn’t want to own it H&S projects to 1.07 Don’t shoot the messenger pic.twitter.com/wdpW9RpU5k – Peter Brandt (@PeterLBrandt) March 26, 2025
If XRP price falls below the $1.90 level, Brandt’s bearish prediction could come true, taking the asset to $1.07.
However, the projection could be invalidated if XRP breaks above the $3 resistance. It is worth noting that the $2 price zone remains the most critical support level for XRP, as observed another renowned cryptocurrency analyst, Ali Martinez.