- Brandt warned that XRP could record a large retrace if it falls under $ 1.8.
- The overall sales pressure dropped 3 times at the end of June and could stimulate bulls.
Ripple [XRP] Has reached a crucial level that can mark a stronger rebound or a potential crash.
According to the renowned analyst Peter Brandt, the weekly graph of XRP was about to form a bearish head and shoulder pattern. A dip under $ 1.8 can be a warning sign, burns addedsaying,
“Consider the exceeding of April 7 as an extraordinary movement, and we have a possible H&S top in $ XRP”
Source: Peter Brandt/X
If the projection of Brandt takes place, the potential bearish -white would be as low as $ 0.05, more than 77% crash.
However, the Altcoin rose by 8% this week and traded at $ 2.1, which means that it was far from the $ 1.8 risk level marked by Brandt.
“We believe that XRP will double”
The above bearish prospect was in violation of the double growth guroto of Canary Capital. In an interview in April with Schwab Network, Canary’s CEO, Steven McClurg, said“
“There are a few that we believe that they will perform better this year than Bitcoin, such as XRP … I think most of it will double” “
For Perspectief, XRP performed better than Bitcoin [BTC] With more than 400% at the end of last year. Repeating a similar step against BTC will therefore not be surprising.
So far, however, XRP has been left at BTC in 2025 and he has fallen more than 40% against the King Coin.
Source: XRP/BTC, TradingView
Yet price promotion will not be easy. According to Glassnode’s cost -based data, $ 2.2 marks the average acquisition price for nearly 2 billion XRP.
If holders choose to break even here, resistance can quickly build up. The next zone of the stock zone is between $ 2.3 and $ 2.4, where more than 1 billion XRP was purchased.
Source: Glassnode
In the meantime, XRP traded on the $ 2.19 press, but there was no sign of an overheated market or sale despite a huge offer around the level.
Taking a profit illuminated 3x. So is the sales pressure dead?
Here is the encouraging turn: despite the threatening supply zones, taking a profit has decreased dramatically. According to Glassnode, the speed of make a profit Around $ 151 million a day of XRP became in mid -June.
However, the sale was reduced to $ 47 million this week, almost a pressure with 3x busy. This suggested the potential of XRP for extensive recovery in the midst of a weak sale.
Source: Glassnode
On the one hand: Brandt’s warning for a steep drop if $ 1.8 fails. On the other hand, the call from Canary can be for an outbreak and potential double.
But in the middle is $ 2.2. Whether this level breaks or holds can decide which prediction will be made first.
Credit : ambcrypto.com
