Veteran Trader Peter Brandt Warns XRP Could Soon Drop to $1.07

Veteran trader Peter Brandt has predicted that the price of XRP will fall sharply, warning that it could soon drop to $1.07. Brandt’s bearish forecast is based on the appearance of the classic head and shoulders pattern (H&S), a famous trend reversal signal. In a post on X, Brandt stated that the recent upward trend of XRP, which saw a 5% increase last month, is nearing its end. He warned that unless XRP surpasses the $3 mark, it will continue to fluctuate within the range

If it falls below $1.90, a major decline could occur. “H&S is expected to drop to 1.07. Don’t shoot the messenger,” Brandt stated, adding that he has no interest in the fluctuations of XRP. Interestingly, this bleak outlook is in stark contrast to recent predictions that XRP could reach $27 within 60 days. Despite the bearish technical signals, the fundamentals of Ripple remain strong. The approval rate for the XRP ETF has increased by 83% even though the U.S. SEC has delayed. Volatility Shares has launched the first 1x XRP futures ETF, boosting optimism for the approval of a spot ETF. Ripple is becoming more popular thanks to major upgrades and new partnerships. The recent update for the XRP Ledger aims to help Ripple compete better with Ethereum and Solana. Thanks to this news, XRP has seen a price increase and there is a wave of discussion about it on social media. Although Brandt’s analysis is concerning, the increase and interest of institutions in Ripple may benefit it in the long run. Currently, traders are paying attention to explore which factors, technical or fundamental, will have the greatest impact.