Legendary Trader Peter Brandt On XRP Price Chart: “Nothing Stands Out To Me”

XRP became the topic of discussion on X between a random crypto enthusiast and a Shrewd crypto dealer, Peter Brandt, with over 40 years of trading experience. 

The discussion between the two individuals revolved around Brandt’s previous assertion about XRP and how it relates to the coin’s current status.

Read Also: Google Bard’s Projected Timeline For XRP To Reach $3, $7, $11, or $15

In a nutshell, the X user referenced Brandt’s previous tweet with another question that went thus, “Could we have your views on the XRP chart?”

In response to the query, the renowned crypto trader shared an XRP price chart with the caption, “Nothing stands out to me.” Brandt’s response implies that he sees nothing to be cheerful about XRP’s current standings.

Brandt Response Contradicts Previous Assertion

Notably, Brandt claimed in June 2023 that XRP was getting set up for something big. He attached an XRP candlestick pattern in a 30-day timeframe to drive his assertion, having done an in-depth analysis. 

A few weeks after the veteran trader’s statement, Judge Torres ruled in favor of Ripple in the lawsuit against the United States Securities and Exchange Commission (SEC), resulting in XRP witnessing a surge that saw it climb to a 2023 all-time price high of $0.93. 

XRP’s Present Market Standings

After the remarkable run in July last year, XRP has remained a shadow of its old self, trading for less than $0.6 for most of 2023’s last quarter up to 2024. 

According to XRP’s data on Coincodex, the digital asset is priced at approximately $0.56, reflecting a 2.26% surge in the past 24 hours. It is currently the sixth largest crypto asset on the price tracking platform, with a market cap of roughly $30.43 billion. XRP’s trading volume is approximately $2.19 billion. 

Other XRP statistics revealed that supply inflation is exceedingly high and pegged at 8.62%. Volatility is medium at roughly 3.65%. While sentiment remains bullish, the “Fear and Greed Index” points at “Extreme Greed.”

Read Also: Veteran Trader Brandt Points Up Impressive XRP Price Surge, Takes a Dig at SEC Chair Gensler

XRP To $7

According to one of our recently published reports, renowned crypto market chartist Egrag Crypto projected XRP to $7. He said the digital asset is on its path to higher prices. He added that it will outshine the flagship crypto asset, Bitcoin (BTC).

Despite the coin’s struggles to attain remarkable levels, Egrag remains one of the most consistent market watchers who has remained bullish on XRP.

Egrag’s latest analysis cited historical trends from 2017 to early 2018 when XRP skyrocketed to its $3.81 all-time high (ATH).

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