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Legendary analyst Peter Brandt, known for his accurate market calls and closely followed by a large investor base, has issued a striking warning for XRP. Brandt’s latest technical analysis highlights strengthening bearish signals on XRP’s weekly chart, pointing to a potential trend reversal. In particular, the price struggling at critical resistance levels suggests increasing selling pressure in the market. The analyst cautions investors to act more carefully and with greater discipline due to the possibility of a double top formation.
Peter Brandt Issues a Strong Warning for XRP
Peter Brandt, who has been active in financial markets for decades and is well known for his technical analysis expertise, shared his latest assessment of XRP on his X (formerly Twitter) account. Brandt emphasized that Ripple (XRP) may be forming a double top pattern on the weekly chart, noting that this structure carries significant technical risk. According to Brandt, after a strong rally, XRP has been struggling to break through key resistance levels. The inability to hold prices in these zones indicates weakening buying power and growing selling pressure. He warned that if this technical setup persists, a potential trend reversal could come into play, urging investors to remain cautious.
A double top formation is widely regarded in technical analysis as a bearish reversal pattern. It typically forms when an asset reaches similar peak levels twice but fails to break above resistance. The lowest point between the two peaks is known as the “neckline.” For the pattern to be technically confirmed, the price must close below the neckline. Once this happens, a stronger downward trend is generally expected.
Key Levels to Watch on the XRP Chart
According to the chart shared by Peter Brandt, XRP formed its first peak around $3.4 in January 2025 following Donald Trump’s presidential victory. It then experienced a sharp pullback in March, falling to around $1.8, which formed a low near the neckline. From this level, XRP rebounded and climbed again to approximately $3.65, creating a second peak very close to the first one. However, the price once again faced strong resistance at this level and subsequently lost nearly 50% of its value.
Brandt stated that for the double top formation to be definitively confirmed, XRP must make a weekly close below the $1.8 level. If this happens, it would signal the end of the uptrend and confirm a transition into a bearish trend. In his words:
“The structure in XRP looks like a potential double top. Of course, this pattern could fail. If it does, I will reassess. But at this stage, downside risks are clearly dominant.”
Overall Assessment
Peter Brandt’s warning for XRP underscores the importance of closely monitoring critical technical levels. The $1.8 region stands out as a key support level for XRP investors in the short to medium term. Whether this level holds or breaks will be crucial in determining XRP’s price direction in the coming period.
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