The post Peter Brandt Predicts XRP Could Drop to $1.07 Unless It Hits $3 appeared first on Coinpedia Fintech News
Peter Brandt, a veteran market analyst, has identified a pattern in XRP’s price chart called a head and shoulders top. This is a bearish pattern usually that signals an imminent downtrend. He suggests that the price will drop, potentially reaching its lowest point from November 2024, unless the coin makes a strong recovery.
XRP Struggles for Direction Amid Bearish Trend
Since March began, XRP hasn’t shown a clear upward or downward trend. The altcoin has experienced both price drops and occasional rises, but overall, it remains in a bearish trend. “This could become bullish if 3.0 is exceeded, otherwise the implications is a decline to 1.07,” he noted.
Brandt’s chart shows that the left shoulder formed when XRP hit a $2.9 peak in early December 2024. This surge followed an uptrend that started in November 2024 after Donald Trump’s election win, with XRP rising from $0.5 in November to $2.9 in December before facing a price drop.
After more than a month of sideways movement, XRP bounced back, reaching a new seven-year high of $3.4 in mid-January 2025. This peak marked the “head” of the pattern. However, after hitting resistance at $3.4, XRP dropped along with the broader market. Interestingly, following President Donald Trump’s announcement that XRP will be part of the U.S. crypto reserve, XRP rallied again, peaking at $3 on March 2, forming the “right shoulder.”
Key Levels To Watch
With both shoulders and the head in place, the pattern’s neckline is around $1.9 to $2. This level is crucial because it will decide whether the head and shoulders pattern holds or gets invalidated.
In his latest analysis, Brandt called XRP a “pet rock,” echoing his previous negative opinions about the asset. However, he acknowledged that if XRP breaks above $3, the bearish outlook would no longer apply. If the head and shoulders pattern holds true, Brandt predicts XRP could drop to $1.07, a level last seen in November 2024. Falling below $2 and into the $1 range would be a bearish sign for XRP.
Brandt previously warned that this drop could happen if XRP falls below $1.9, the key support level. Right now, XRP is trading at $2.16, down 6.12% in the last 24 hours. A further 12% drop could push it to test the $1.9 support. Previous analysts suggest that XRP stays bullish as long as it holds above $2.
Economic Factors
Besides, Beyond technical charts, economic factors also impact XRP’s price. The upcoming 25% tariffs on car imports, starting April 3 under Trump’s policy, could raise manufacturing costs and fuel inflation.
Besides, the CME FedWatch Tool estimates the chances of a rate cut in June at 55.7%, down from 67.3% last week. If the Fed keeps rates higher for longer, it can decrease liquidity in speculative markets, which may negatively impact risk assets such as XRP.
The post Peter Brandt Predicts XRP Could Drop to $1.07 Unless It Hits $3 appeared first on Coinpedia Fintech News
Peter Brandt, a veteran market analyst, has identified a pattern in XRP’s price chart called a head and shoulders top. This is a bearish pattern usually that signals an imminent downtrend. He suggests that the price will drop, potentially reaching its lowest point from November 2024, unless the coin makes a strong recovery. XRP Struggles for …
This articles is written by : Nermeen Nabil Khear Abdelmalak
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