Popular Analyst Peter Brandt Identifies XRP Head & Shoulder Pattern, Reveals Path To Take

Source Newsbtc

Popular analyst Peter Brandt has provided a bearish outlook for the XRP price, predicting that the altcoin could drop below the $2 support. As part of his analysis, he highlighted a head-and-shoulders pattern that could spark the breakdown below $2. 

Peter Brandt Identifies XRP Head And Shoulders Pattern

In an X post, Brandt revealed that XRP is forming a textbook head-and-shoulders pattern, which has caused the altcoin to range-bound. He added that the head-and-shoulders pattern projects a price decline to as low as $1.07. The analyst’s accompanying chart showed that XRP could witness a freefall to this target if it loses the $1.9 support. 

Crypto analyst CasiTrades had also recently raised the possibility of XRP dropping to as low as $1.54. She revealed that a break below the $2.25 support and lower support at $1.90 could lead to this breakdown to $1.54. However, the analyst suggested that the probability of this happening was really low, as the $2.25 support is holding really strongly. 

XRP

Meanwhile, crypto analyst Ali Martinez also discussed the head-and-shoulders pattern that had formed for the XRP price. In an X post, he stated that if XRP can break above $3, it would invalidate the current head-and-shoulders pattern, a development that could flip the altcoin’s outlook to bullish. In his analysis, Brandt had also hinted that a rally above $3 could invalidate the bearish pattern. 

Martinez’s accompanying chart showed that XRP could drop to as low as $1.25 if this head-and-shoulders pattern plays out. In another post, he again raised the possibility of XRP suffering this price breakdown, while stating that the $2 price level remains the critical support level for the crypto. 

Bullish Outlook For The Altcoin

In an X post, crypto analyst Dark Defender provided a bullish outlook for the XRP price, predicting it could reach as high as $23.20. The analyst claimed that the third wave targets a rally of between $5.85 and $8.076. Meanwhile, the fifth wave is expected to finish the move between $18.22 and $23.20. 

This prediction came as part of Dark Defender’s analysis of the 3-month candle. He affirmed that XRP boasts a clear bullish momentum on this higher timeframe. He added that there are ups and downs in smaller time frames, but the higher frames supersedes the smaller ones. 

In another post, the analyst assured XRP’s consolidation will be over soon. He revealed that the altcoin has formed a great bullish rectangle pattern and that the next leg up will send it to new all-time highs (ATHs). 

At the time of writing, the XRP price is trading at around $2.25, down over 4% in the last 24 hours, according to data from CoinMarketCap.

XRP
Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.
Author  Suzie
Sep 14, Mon
A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.
placeholder
Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for cryptoThe US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.
Author  Suzie
Sep 16, Wed
The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.
placeholder
Dollar index tops 100 for the first time since July as the Fed's hawkish dot plot sinks inThe U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.
Author  Irene Q.
Sep 17, Thu
The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.
placeholder
Gold rebounds to near $4,350 on weaker US Dollar, falling oil pricesGold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.
Author  FXStreet
Yesterday 01: 32
Gold price (XAU/USD) rises to near $4,345 during the early Asian session on Friday. The precious metal rebounds from a six-week low amid falling oil prices and a weaker US Dollar (USD). Traders continue to assess the latest Federal Reserve (Fed) rate hike and policy cues.
placeholder
US to delay new "overcapacity" tariffs on China — what the pause means for trade, inflation and the dollarWashington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.
Author  Mitrade
Yesterday 07: 43
Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.
goTop
quote