
Jakarta, Pintu News – The price movement of XRP is back in the spotlight after veteran trader Peter Brandt expressed a bearish view based on a double-top technical pattern that appeared on the price chart.
Brandt cautioned that this pattern often indicates weakening bullish momentum and a potential price correction, even though the fundamental narrative of the Ripple ecosystem currently shows strong development. This analysis caught the attention of many market participants because it combines both aspects – technical and fundamental – that contradict each other in determining the price direction of XRP.
In his statement, Peter Brandt warned that the XRP price chart shows a possible formation of a double-top pattern, which is when the price twice fails to break through the same resistance level and then drops. Such patterns in technical analysis are often interpreted as an early signal that the uptrend may be losing strength. Brandt emphasized that while the pattern could fail, it currently has bearish implications until proven otherwise.
This warning comes after XRP experienced a period of price consolidation since the late 2024 rally, so the focus has now shifted to whether or not key support levels can withstand a decline. Attention to technical patterns such as the double-top suggests that some traders are still cautious of the potential for continued selling pressure in the market.
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In contrast to the bearish technical signals, Ripple’s fundamentals point to a more expansive direction. Ripple has extended its Ripple USD (RLUSD) stablecoin to various Layer-2 networks including Optimism and Base with support for Wormhole’s Native Token Transfer standard, allowing the stablecoin to operate across chains natively without beingwrapped in synthetic form. This move is intended to increase RLUSD’s utility in DeFi and liquidity across different protocols.
The expansion of RLUSD reflects Ripple’s efforts to capitalize on the speed and low-cost advantages of Layer-2 networks while retaining native control over the token and support of the XRP Ledger network. This development could drive stablecoin adoption while expanding the ecosystem beyond XRP’s traditional payment functions.
The contrast between bearish technical signals and strong fundamentals creates a dilemma for market participants. While technical traders notice the double-top as a potential start of a downtrend, fundamental developments such as RLUSD expansion and multichain support point to a more positive long-term development direction. This situation is important because often both approaches can paint a different picture of short-term and long-term price potential.
Some other analysts have even pointed out that periods below the long-term simple moving average (SMA) may not necessarily reflect a sustained downtrend if supported by strong adoption and usage metrics. This suggests that XRP’s price direction could be influenced by a balance between technical and fundamental pressures.
Traders who rely on technical analysis will probably monitor the confirmation of the double-top pattern as well as key support levels to assess the potential for continued price drops.
On the other hand, long-term investors who focus on the fundamental development of ecosystems such as the expansion of RLUSD may assess the value of the broader network even if short-term prices show pressure. Investment decisions often require a combination of technical and fundamental approaches to understand the risks and opportunities involved.
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A double-top pattern is a price chart formation where the asset fails to break the resistance level twice, then trends down, and is often interpreted as a signal of a potential uptrend reversal into a downtrend.
Brandt sees the possibility of a double-top pattern forming on the XRP price chart, which he says could signal weakening bullish momentum and increase the risk of a price correction.
RLUSD is a stablecoin launched by Ripple and now extended to various Layer-2 networks to increase utility and liquidity in DeFi while maintaining native issuance.
Multichain expansion refers to the ability of RLUSD to operate on multiple blockchains or Layer-2 without beingwrapped, allowing direct native transfers between networks.
Technical signals such as the double-top indicate potential downward pressure, but not certainty, as the pattern could fail if the price rises above a key resistance level.
Technical analysis focuses on short-term price movements, while fundamentals consider long-term network usage and development factors; both need to be considered for a more comprehensive investment decision.