50-Year-Old Analyst Gives Disappointing News for XRP Bulls! “The Situation is Very Critical, Price May Crash!” Here’s Why…
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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). Stating that he is bullish on XRP in early 2025, the veteran analyst pointed out that a classic head and shoulders formation has formed on XRP’s weekly chart. At this point, Peter Brandt, who warned XRP investors against the head-and-shoulders formation, generally known as a transition to bearish momentum, predicted that the price could fall below $1.80. Watch Out for XRP Price! Stating that XRP is currently at a critical point, Peter Brandt admitted that the decline to $ 1.6 on April 7 was not part of the head-and-shoulders formation, but was an abnormal movement due to increased volatility. According to Brandt’s admission, the head-and-shoulders pattern in XRP began forming in late 2024. The left shoulder formed in December 2024, when XRP reached $2.9, the head formed during the higher surge to $3.4 in January 2025, and the right shoulder formed during the rally to $2.65 in May 2025. In addition to these levels, most importantly, a solid horizontal neckline is located at $1,875, and XRP is currently trading just above this level. The analyst also emphasized that although a head-and-shoulders pattern has formed on the XRP chart, this does not mean that the XRP price will automatically fall. At this point, Brandt noted that the XRP price is in the critical zone, close to the neckline at $1.87. Stating that he would re-evaluate his analysis if XRP closed below the $1.8 range on the weekly chart, the analyst argued that a possible weekly close below $1.8 could deepen the decline. According to the analyst, a close below $1.8 could confirm the head-and-shoulders pattern, also known as a bearish reversal, and invite a price crash. *This is not investment advice. Continue Reading: 50-Year-Old Analyst Gives Disappointing News for XRP Bulls! “The Situation is Very Critical, Price May Crash!” Here’s Why…
Source: BitcoinSistemi
