XRP’s post-law court price movement has become a center of attraction that seems to be grabbing headlines in virtually all crypto news outlets.
While several crypto bosses have recently gone public to relay their unique views on XRP’s price movements, the insight from the veteran trader and analyst Peter Brandts Appear to grab more attention.
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The shrewd crypto trader took to Twitter to highlight XRP’s price surge in a manner that depicts mockery of the U.S. Securities and Exchange Commission’s chief, Gary Gensler, by captioning his tweet, “the Gensler pattern.”
Henceforth known as the Gensler pattern $xrpusd pic.twitter.com/uY9Vu1w6Ag
— Peter Brandt (@PeterLBrandt) July 13, 2023
Interpreting Brandt’s Chart
Brandt’s shared chart disclosed how XRP succeeded in breaking above significant resistance levels at $0.48, $0.50, $0.54, and $0.58, providing little opposition to XRP’s staged bullish campaign.
Barely four hours after the pronouncement of the summary judgment by Judge Torres, XRP spiked temporarily by 98% to attain the $0.9380 price mark. It is worth noting that XRP last reached a price high of $0.9380 in 2021 when the token was declining from a $1 market worth.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Ripple CTO David Schwartz Shares Likely Date For XRP Lawsuit Summary Judgment
“Case Can Be Made, XRP Is Getting Set For Big Run Up”
Some crypto community members brought Brandt’s attention to an assertion made by an XRP advocate and crypto YouTuber on June 27, which implies that XRP is setting up for a massive rally.
Reacting to the YouTuber’s assertion, Brandt maintained that XRP is indeed on the verge of a mind-blowing rally. “Case can be made XRP is getting set for a big run-up,” Brandt stressed while displaying a chart that followed a previous head and shoulders pattern formed between 2019 and 2021.
Case can be made XRP is getting set for big run up pic.twitter.com/eHztApYNMb
— Peter Brandt (@PeterLBrandt) June 27, 2023
Despite his substantial conviction about XRP’s potential, the crypto expert remains a prominent critic of the cross-border crypto asset. Recall that he once tagged XRP “Garbage” in response to a report on Ripple’s co-founder.
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