Gate News bot news, veteran trader Peter Brandt posted on social media predicting that the recent outlook for XRP price is bleak and may fall to $1.07. He believes that after XRP rose by 5% in the past month, it is showing clear signs of a trend reversal. Brandt pointed out that the upward momentum of XRP is about to end, and the price is facing the threat of falling below the $1 mark.
Brandt’s prediction is based on the classic head and shoulders pattern on the XRP price chart. This pattern typically signals a trend reversal, and Brandt points out that this pattern suggests a price fall for XRP: “I have no vested interest in a rise or fall. XRP is forming a typical H&S pattern.”
Currently, the trading price of XRP is about 2.30 USD, and Brandt interprets it as range fluctuations. He points out that if the price breaks above 3 USD, it will trigger a pullback, while if it falls below 1.9 USD, it will cause a price crash.
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