Experienced analyst Peter Brandt, who has been in the market for a long time and is closely followed with his successful analyses, shared his latest analysis for Ripple (XRP).
Sharing from the X account, Brandt pointed out the downward trend in XRP this time, stating that there could be a possible decrease in the price.
According to Peter Brandt, the bearish formation seen on the XRP daily chart points to a further correction if the price closes below the critical $2.66 support trend line.
Veteran trader Peter Brandt pointed out a descending triangle forming on the XRP daily chart, suggesting that further declines are possible.
The experienced analyst pointed out that this structure has been taking shape since XRP experienced a strong price decline from its peak of $3.66 in July, emphasizing that XRP has been oscillating between the upper resistance and lower support of the formation since then.
Veteran market analyst Ali Martinez also predicted that XRP could see further declines. Martinez also shared his bearish outlook for XRP, pointing to a descending triangle formation similar to Brandt’s on the daily chart.
Market veteran Ali Martinez also predicted that XRP could see further dips. He shared that there is an XRP trend within a descending triangle on the daily timeframe, with a similar origin to Brandt’s.
“The triangle in XRP appears to be heading towards a retest of the $2.72 low.”
XRP, which has fallen 3.3% in the last 24 hours, continues to trade at $2.86.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/50-year-old-analyst-peter-brandt-warns-about-xrp-danger-is-near-these-levels-are-visible-he-shares-price-prediction/
