Market Veteran Peter Brandt Predicts XRP’s Next Big Move—Bull or Bear?

2 days ago 20

March 30, 2025 by Kashif Saleem

Peter Brandt warns XRP’s head and shoulders pattern could drive price down to $1.07.
A break above $3 would invalidate bearish setup, possibly triggering a bullish reversal rally.
Analyst TehThomas highlights bullish signals like Golden Pocket and Ascending Channel, targeting $2.8–$2.9 range.

XRP’s price action has been a rollercoaster in recent months, and market veteran Peter Brandt has identified a significant pattern that could dictate its next move.

According to him, the altcoin has formed a head and shoulders top, a formation that often signals a bearish downturn. If this pattern plays out, XRP could plunge toward the $1.07 mark. However, a break above $3 would invalidate this bearish outlook, potentially setting the stage for a strong rally.

Brandt, who has a history of skepticism toward XRP, went as far as calling it a “pet rock.” Despite his criticism, he acknowledges that a price surge above $3 could flip the current trend from bearish to bullish.

Similarly, Market Analyst Ali Martinez, noted that “If $XRP can break above $3, it would invalidate the current head-and-shoulders pattern, potentially flipping the outlook bullish,” Martinez stated.

XRP’s Key Support Levels in Focus

XRP’s recent market history has been turbulent. Following Donald Trump’s victory in November 2024, the asset experienced a dramatic surge from $0.5 to $2.9 in early December. This price action formed the left shoulder of the pattern Brandt identified.

In mid-January 2025, the cryptocurrency hit a seven-year high of $3.4, forming the head of the pattern. However, the rally was short-lived as resistance at this level led to a broader market pullback. The decline brought it into a phase of consolidation before it attempted another recovery.

Interestingly, Trump’s social media announcement in March, where he revealed plans to include XRP in the U.S. crypto reserve, triggered another surge. On March 2, the cryptocurrency peaked at $3, forming the right shoulder of the pattern.

With both shoulders and the head now in place, Brandt’s analysis highlights a critical neckline between $1.9 and $2. This level is pivotal. If it breaks below this range, it could confirm the bearish head and shoulders pattern, leading to a steep drop to $1.07—a level last seen in November 2024 before the rally began.

Ascending Channel Points to Rally

Meanwhile, TradingView analyst TehThomas highlights XRP’s Ascending Channel, a pattern signaling a continued uptrend. In a 4-hour timeframe, the cryptocurrency has consistently formed higher highs and higher lows, indicating sustained bullish momentum.

A key development supporting a bullish case is the emergence of a Golden Pocket on XRP’s chart. This Fibonacci retracement zone, ranging from 0.618 to 0.65, is often seen as a strong support area. Historically, it has rebounded from this level, suggesting that buyers are actively defending the price.

TehThomas predicts that if XRP maintains support above this Fibonacci retracement zone, it could rally toward the 0.618 Fibonacci extension level, aligning with the upper boundary of the Ascending Channel. This move could push it to a target range of $2.8 to $2.9, marking a 30% increase from its current price of $2.2.

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