Peter Brandt Says XRP Could Extend Gains if It Breaks Above $1.55
JH Kim
Summary
- Peter Brandt said XRP could extend its gains if it decisively breaks above the $1.50 to $1.55 range, completing an inverse head-and-shoulders pattern.
- Brandt has previously expressed skepticism about XRP's fundamentals, but said the chart alone provides a basis for a trade.
- The outlet said XRP could rise to $2.05 to $2.10 if the standard target for an inverse head-and-shoulders pattern is applied.
Veteran trader Peter Brandt said XRP could extend its gains if it decisively breaks above the $1.50 to $1.55 range, completing an inverse head-and-shoulders pattern.
Crypto-focused media outlet The Crypto Basic reported on September 28 that Brandt, despite his long-standing skepticism about XRP's fundamentals, sees enough in the chart alone to justify a trade.
With XRP currently trading at about $1.52, the token needs to hold above the $1.50 to $1.55 zone for the pattern to be confirmed.
The outlet added that, using the standard target for an inverse head-and-shoulders pattern, XRP could rise to between $2.05 and $2.10.
JH Kim
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