Peter Smith
Trading legend Peter Brandt just dropped a bombshell on the XRP community, and it's not good news for the bulls. The veteran chartist is seeing a nasty head and shoulders pattern forming on XRP's weekly chart, and he's warning that things could get ugly fast if the price breaks the wrong way.
Right now, XRP is dancing around $1.99, which happens to be sitting right on the neckline of this potential pattern. Brandt says he'll only change his mind if XRP closes below $1.87 this week – and that could spell serious trouble for anyone still holding onto their bags.
The whole setup looks pretty scary when you zoom out. XRP had an incredible run from late 2024, breaking out of a years-long wedge and shooting up to around $3.20 before cooling off. But now it's stuck in this tight range just above $2.00, and if Brandt's right, that April 7 spike might have been the top.
XRP Bulls Fighting for Their Lives at $1.99
The action around $1.99 is where all the drama is happening right now. This level isn't just some random number – it's the make-or-break point for XRP's entire rally. The price has been bouncing around this zone like a pinball, and everyone knows that whoever wins this battle will probably control where XRP goes next.
What makes this even more intense is how perfectly XRP is respecting this technical level. It's like the market is following the textbook to a T, which doesn't happen all that often. When you see this kind of precision in the charts, it usually means something big is about to go down.
Brandt isn't just throwing darts at a board here – he's got his finger on the pulse of this market, and when he talks, people listen. The fact that he's specifically calling out $1.87 as the level to watch tells you just how serious this situation really is.
One Bad Close Could Send XRP Crashing
Here's where things get really scary for XRP holders. If the price closes below $1.87 this week, it's not just a small technical breakdown – it could be the start of something much worse. That level is like the last line of defense for the bulls, and once it's gone, there might not be much standing between XRP and a serious drop.
The bigger picture makes this even more concerning. XRP just had one of its best runs ever, breaking out of that multi-year wedge and going parabolic. But now it's forming what looks like a high-tight flag, which could either continue the rally or completely reverse it. With Brandt's head and shoulders pattern in the mix, the odds aren't looking great for the bulls.
The crazy part is how fast things could change. One bad weekly close and suddenly everyone who bought the breakout could be underwater. It's the kind of scenario that keeps traders up at night, especially when someone with Brandt's track record is calling it out.
Market Getting Ready to Explode
The technical indicators are basically screaming that something big is coming. The average true range has dropped to 0.4860, which usually means volatility is about to explode. Think of it like a coiled spring – the tighter it gets, the bigger the move when it finally snaps.
Meanwhile, the ADX is sitting at just 16.41, showing that the current trend is losing steam. This combo of low volatility and weak trend strength is classic setup for a major breakout, but nobody knows which way it's going to go.
Everyone's watching those charts like hawks now, waiting to see if XRP can hold above that crucial $1.87 level. The next few candles could literally make or break this whole rally, and Brandt's warning has made sure that every trader in crypto is paying attention.
It's basically a game of chicken at this point. The bulls need to defend $1.87 like their lives depend on it, while the bears are just waiting for that one crack in the armor to pounce. With someone like Peter Brandt calling the shots, you can bet this is going to be one hell of a ride.
Peter Smith
