Legendary trader Peter Brandt has issued a stark warning for XRP holders, pointing to a descending triangle formation on the charts â a pattern that often signals further downside ahead.
đ» Key Levels to Watch:
Current support sits at $2.78
If this breaks, downside targets may be $2.40 and even $1.90
XRP has already fallen ~24% from its recent ATH of $3.67 (July 18)
Brandtâs analysis shows lower highs converging on support, reflecting weakening buying pressure and strengthening bearish momentum.
đ On Friday alone, XRP dipped nearly 6%, with a daily low of $2.8 on Bitstamp â further confirmation of fragile sentiment surrounding the asset.
đ Wider Market Impact:
The decline isnât isolated. The broader crypto market is in a downturn, with Bitcoin sliding below $109K, amplifying caution across altcoins. This negative environment makes it even harder for XRP to hold critical levels.
â ïž The Takeaway:
XRPâs $2.78 support is now the line in the sand. If bulls fail to defend it, Brandt warns that a sharper decline may follow, dragging prices toward $2.4 or $1.9.
đ Traders should remain cautious, watch volume trends, and prepare for potential volatility as XRP navigates this crucial technical test.
#XRP #Crypto #altcoins #PeterBrandt #TechnicalAnalysis
