Peter Brandt: XRP may fall to 1.07 dollars unless it reaches 3 dollars

Peter Brandt, a veteran market analyst, has just discovered the “head and shoulders” pattern on the price chart of XRP. This is a bearish pattern that typically signals an impending downward trend. He believes the price could plummet, reaching its lowest level since November 2024, unless the coin makes a strong recovery.

XRP Struggles to Find Direction

Since the beginning of March, XRP has not shown a clear upward or downward trend. This altcoin has experienced both temporary declines and increases, but overall remains in a downtrend.

“The trend could turn bullish if it surpasses the $3 level; otherwise, it will drop to $1.07.”

The Brandt chart shows the left shoulder formed when XRP peaked at $2.9 in early December 2024. This bullish move is the result of an upward trend that began in November 2024 following Donald Trump’s election victory, with XRP rising from $0.5 in November to $2.9 in December before facing a correction.

Source: Peter BrandtAfter more than a month of sideways movement, XRP has bounced back, reaching a seven-year high of $3.4 in mid-January 2025. This peak marks the “head” of the pattern. However, after hitting the resistance level of $3.4, XRP declined along with the broader market. Interestingly, after President Donald Trump announced that XRP would be included in the U.S. cryptocurrency reserves, the price surged again, peaking at $3 on March 2, forming the “right shoulder.”

Important levels to watch

With both shoulders and the head formed, the neckline of the pattern is around $1.90 to $2. This price level is crucial as it will determine whether the head and shoulders pattern holds or is invalidated.

In his latest analysis, Brandt calls XRP “worthless,” reiterating his previous negative opinions about the asset. However, he acknowledges that if XRP breaks the $3 level, the bearish outlook will no longer be valid. If nothing changes with the head and shoulders pattern, Brandt predicts that XRP could drop to $1.07 – a price that was last recorded in November 2024. If it falls below $2 and into the $1 range, that would be a bearish signal for XRP.

Previously, Brandt warned that the price of XRP could drop if it fell below the important support level of $1.90. Currently, XRP is trading at $2.13, down nearly 6% over the past 24 hours. A further decrease of 12% would bring XRP to test the support level of $1.90. Analysts previously suggested that Ripple’s altcoin would maintain an upward trend as long as it stays above the $2 level.

Economic factors

In addition, besides technical charts, economic factors also affect the price of XRP. The upcoming 25% import tax policies on automobiles starting from 3/4( by Trump could increase production costs and drive inflation.

In addition, the CME FedWatch Tool estimates the probability of a rate cut in June at 55.7%, down from 67.3% the previous week. If the Federal Reserve )Fed( maintains high interest rates for an extended period, this could reduce liquidity in speculative markets, negatively affecting risk assets such as XRP.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do thorough research before making any decisions. We are not responsible for your investment decisions.

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Minh Anh

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