Jakarta, Pintu News – Veteran trader Peter Brandt is now bearish on the price of XRP (XRP), changing his recently announced long-term bullish prediction. He predicts the price of XRP could fall below $1 if the bulls fail to overcome the emerging bearish pattern.
Meanwhile, the important on-chain Whale Flow 30-DMA data remains in the negative zone.
Peter Brandt shared a weekly chart and highlighted the formation of a double-top pattern. He warned the crypto community of a possible further decline in the price of XRP. Additionally, he became bearish as the double-top pattern is a very bearish formation that signals a reversal from the most recent price peak.
Read also: XRP Bullish Pattern Allows Price Surge to $3 as ETF Breaks $1 Billion!
According to Brandt, XRP has formed two significant peaks this year, with a critical neckline support level of around $2. This double-top pattern was confirmed after the price dropped below $2, indicating that the price of XRP could move down soon.
Brandt warns that if this pattern persists and the bulls fail to lift the price, then XRP could start plunging towards $1.
“It may fail, and I will deal with it if it does. But for now, it has bearish implications. Like it or not – you have to deal with it,” he added.
Peter Brandt’s bearish prediction for the price of XRP sparked various responses from the community. Some traders pointed to the weekly Relative Strength Index (RSI) value at 33, which suggests that XRP is oversold and may rebound if the double-top pattern fails to form.
Brandt agrees with the possibility of a price rebound followed by a rise in RSI. He said, “It could get interesting.” He added, “I’m not advocating a bearish case – just showing the chart for what it is.”

However, the XRP Army criticized Brandt and stated that previous bearish predictions have often preceded significant price rallies, which casts doubt on the projections.
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General crypto market sentiment and on-chain data seem to support the warning. The price of XRP fell 4% in 24 hours (12/18), extending the decline to 50% from the price peak in July. Recently, Peter Brandt shared a bullish view for XRP, but has now turned bearish.
The price briefly traded at $1.85, with a low in the last 24 hours of $1.85 and a high of $1.98. Trading volume increased by 25% in the last 24 hours.
Crypto analyst Ali Martinez recently revealed that whales have sold 1.18 billion XRP in the last four weeks. He claims that this sell-off by whales has increased the pressure for a possible correction towards $1.
Peter Brandt is a veteran trader known for his technical analysis in the crypto market.
A double-top pattern is a chart formation that indicates a potential trend reversal after an asset reaches two almost equal price peaks.
The Relative Strength Index (RSI) is a momentum indicator used in technical analysis to measure the speed and change of an asset’s price movement.
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