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Chart Whisperer Says XRP Shows A ‘Purer’ Market Structure – Details
Peter Brandt, a veteran chartist, has become bullish on XRP after previously being bearish. He points to a long-term chart spanning from 2013 to 2025, highlighting historical patterns. XRP formed a symmetrical triangle between 2014 and 2017, ahead of a significant price increase. The recent price action has been compared to previous breakout patterns. XRP experienced a crash and fell to $1.55, but subsequently rebounded to the mid-$2 range. Brandt observed a parallel channel pattern after the initial breakout. The token's value currently fluctuates below its one-week simple moving average. On-chain data reveals that many holders sold at a loss, as indicated by a falling SOPR. A weekly close above $3 is considered a sign of renewed strength, and resistance is present at $3.6. Key support levels are recognized, while potential downside targets could reach around $1 if supports weaken.
