Summary
- Peter Brandt said XRP could complete an inverse head-and-shoulders pattern that may lead to further gains if it decisively breaks above the $1.50 to $1.55 range.
- Brandt said he has been skeptical about XRP’s fundamentals, but the chart alone offers a basis for taking a trade.
- The outlet said XRP, now trading at about $1.52, could rise to $2.05 to $2.10 if it holds above $1.50 to $1.55, based on the conventional target for an inverse head-and-shoulders pattern.
Forecast Trend Report by Period
Veteran trader Peter Brandt said XRP could complete an inverse head-and-shoulders pattern that may pave the way for further gains if it decisively breaks above the $1.50 to $1.55 range.
Crypto-focused outlet Crypto Basic reported on September 28 that Brandt, despite his longstanding skepticism about XRP’s fundamentals, sees enough in the chart alone to justify a trade.
XRP, currently trading at about $1.52, needs to establish itself above the $1.50 to $1.55 band for the pattern to be confirmed.
Crypto Basic said that, using the conventional price target for an inverse head-and-shoulders pattern, XRP could climb to $2.05 to $2.10.
JH Kim
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