From Critic to Optimist? Analyst Peter Brandt Now Sees Ripple’s XRP Tapping New Highs ⋆ ZyCrypto
The post From Critic to Optimist? Analyst Peter Brandt Now Sees Ripple’s XRP Tapping New Highs ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Renowned trader and market analyst Peter Brandt, long known for his critical stance on XRP, has stunned the crypto community with a surprisingly bullish forecast for the Ripple-affiliated token. On Monday, Brandt tweeted a chart highlighting a symmetrical triangle pattern on the XRP/USD pair, suggesting a potential breakout. Notably, the chart illustrates XRP’s gradual consolidation into tighter price ranges, culminating in a decisive breakout above the triangle’s upper boundary, a strong bullish indicator. Brandt further noted that XRP’s 2023 high has been cleared and hinted that breaking its April 2021 peak of $1.95 could set the stage for a new all-time high of $3 or beyond. “Ready to RIP XRPUSD. Massive coil. 2023 high now cleared. If 2021 high is cleared, then…,” he wrote, posting rocket emojis. However, in a follow-up tweet, Brandt clarified that he does not hold a long position in XRP and has no intentions of buying it. Instead, he confirmed his holdings in Bitcoin (BTC) and Solana (SOL), along with ownership of some NFTs. Advertisement   Meanwhile, Brandt’s latest analysis marks a striking shift from his historically bearish stance on XRP. Just last month, the 77-year-old trader issued a forecast for XRP against Bitcoin, pointing to an 11-year head-and-shoulders pattern on the XRP/BTC chart. Brandt warned of XRP dropping to zero, derisively referring to Ripple as “RIP PPL OFF,” further underscoring his disdain for the token. Earlier in August, Brandt described XRP’s price action as part of a long-term bearish trend. He highlighted what he termed a “multi-year complex head-and-shoulders” pattern, emphasizing that “If this chart penetrates the lower support line, then all accounts with XRP initials will slowly disappear, never to be seen again.” His remarks, laden with sarcasm, drew sharp reactions from both XRP supporters and critics. These past statements make Brandt’s…
Filed under: News - @ November 25, 2024 6:24 pm