Good days for XRP as long critics of the battle-hardened coin, in addition to only recently hitting a 3-year high, become admirers.
Peter Brandt, who remains a strong critic of Ripple and XRP, founder and CEO of Factor LLC (a trading company he founded in 1980) and author of two published books (Diary of Professional Commodity Trader and Trading Commodity Futures with Classical Chart) Pattern) recently projected XRP to get bullish.
In addition to his trade cards; Peter Brandt, with over 4 decades of trading experience, is also famous for his prediction of the 2018 Bitcoin crash.
XRP on a bullish threshold:
The experienced dealer and Crypto enthusiast tweeted XRP’s weekly price chart and identified it as a made-up head-and-shoulders pattern specified:: “If you swap that (not me) [XRP} is enjoying SEC (U.S. Securities and Exchange) ruling and the madness of crowds. Weekly chart head and shoulder patterns are too often not to [be] believed. But sometimes they come true. That possible inverted head and shriveled right shoulder shoulders would indicate that the prices for a boatload are higher (new all-time highs). XRP. “
In case you act this (I don’t)
Coin enjoys the SEC ruling and the madness of the masses
Too often, weekly chart H&S patterns are hard to believe. But sometimes they come true.
That possible inverted H&S with stunted RS would suggest prices are a boatload higher (new ATHs). $ XRP pic.twitter.com/TQdEV5j8Dv
– Peter Brandt (@PeterLBrandt) April 9, 2021
He also emphasized: “This is known as the composite pivot point and can be a pretty strong buy signal. XRP / BTC. ”
When Katie Stockton, a trader, technical expert, and crypto enthusiast, was contacted, she explained in an email that she identified the pattern according to its criteria not as a head and shoulder pattern, but as a pattern “As a rounded base”. But the conclusion she drew from the pattern is pretty similar to what she said: “The takeaway is similarly upbeat given the breakout above long-term resistance.”
Where could XRP go from here?
Given the image portrayed by both Peter Brandt and Katie Stockton, it’s almost certain that the XRP will cross $ 3 at some point and must reach at least $ 3.40 soon.
Given that Ripple wins the lawsuit against SEC, XRP would certainly be one of the top performing coins on the market, which in a sense it is right now.