Peter Brandt, who remains a staunch critic of Ripple and XRP, founder and CEO of Factor LLC (a trading firm he founded in 1980) and author of two published books (Diary of a Professional Commodity Trader and Trading Commodity Futures with a Classic Charting Model), recently predicted that XRP would be bullish.
Peter Brandt, who has over 4 decades of trading experience, is also known for his prediction of the bitcoin crash in 2018.
XRP at rising threshold:
The veteran trader and cryptocurrency enthusiast tweeted a weekly chart of XRP prices and discovered the invented main leverage model, as he explained: If you trade in it (I don’t), [XRP] benefits from SEC (U.S. Securities and Exchange) management and the madness of the crowd. The weekly chart of head and shoulder models is too often not credible. But sometimes they come true. This possible inverted head and shoulders price with a blunted right shoulder would indicate that the boat is priced higher (new all-time highs). XRP.
If you trade this
game (I don’t), love the SEC chart, and the insanity of the weekly
H&S pattern chart is too often incredible. But sometimes they come true.
This possible reverse H&S system with a low RS would indicate a higher price to load the boat (new ATH). $XRP pic.twitter.com/TQdEV5j8Dv
– Peter Brandt (@PeterLBrandt) April 9, 2021
He also pointed out: This is called a compound pivot point, which can be a fairly strong buy signal. XRP/BTC.
To Trader, technical analyst and crypto-enthusiast Katie Stockton said in an email that while she doesn’t identify the pattern as a head-and-shoulders according to her criteria, it’s more of a rounded basis. But the conclusion she drew from this model is pretty consistent with what she said: The upper assumption is also bullish given the breakout above long-term resistance.
From here, where can XRP go?
Now, given Peter Brandt’s and Katie Stockton’s view, it is almost certain that XRP will eventually break through the $3 mark and at least hit the $3.40 mark soon.
Also, given that Ripple won its case against the SEC, XRP would certainly be one of the best coins on the market, which in some ways it is right now.
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