Veteran Trader Peter Brandt Says XRP Will Fall to This Price If It Fails to Reclaim $3

Veteran trader Peter Brandt has issued a critical update on XRP’s price trajectory, identifying key levels that could determine the cryptocurrency’s next major move. His latest analysis points to a classic complex head-and-shoulders pattern, a formation that often signals a potential trend reversal.

Brandt’s chart suggests that if XRP fails to break past the $3 resistance level, the price could see a sharp decline toward $1.07. However, a sustained move above $3 could invalidate the bearish outlook and open the door for further upside.

Brandt’s Analysis of XRP’s Price Structure

Brandt, who joined the XRP army in late 2024, recently highlighted the significance of XRP’s price action. He pointed out that the cryptocurrency formed a complex head-and-shoulders top, with its peak occurring in January when XRP briefly touched $3.4. Since then, the price has struggled to reclaim the $3 level, facing repeated rejections.

According to the analyst, the $3 mark is a crucial threshold. If XRP breaks above this level, it could indicate renewed bullish momentum. However, failure to do so could validate the head-and-shoulders pattern, increasing the probability of a downturn to the $1.07 support level.

Notably, another well-respected analyst recently pointed toward the same head-and-shoulders pattern, suggesting the asset may also invalidate it by maintaining its position above the neckline of the technical formation.

Market Implications of a Potential Drop to $1.07

A decline to $1.07 would represent a significant loss of value for XRP, cutting its market capitalization nearly in half. With the cryptocurrency valued at approximately $123 billion, such a drop would erase around $60 billion from its market cap.

Falling to $63 billion would put the asset in seventh place, significantly lower than its current position as the fourth-largest cryptocurrency.

What’s Next for XRP?

While Brandt has previously praised XRP, going as far as calling it the leader of the pack, the asset is currently in a crucial position and must reclaim that $3 level to stay strong in the market.

The coming weeks will be crucial in determining whether XRP can regain its bullish momentum or if the head-and-shoulders pattern will play out as Brandt suggests. Investors and traders should closely monitor the $3 level, as a breakout or rejection could dictate XRP’s next major move.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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