Veteran trader Peter Brandt warns XRP may plunge to $1.07, citing a textbook head and shoulders pattern forming as price battles key support near $1.90.

Peter Brandt Identifies Classic Reversal in XRP as Tensions Build at Key Level

Veteran trader Peter Brandt offered his updated analysis on XRP Wednesday, outlining a bearish outlook based on classic chart patterns. Brandt noted that the crypto token is currently locked in a trading range and forming a head-and-shoulders (H&S) setup, a formation that could be interpreted as a sign of an impending downward move. Sharing his observations on social media platform X, he stated:

XRP is forming a textbook H&S pattern. So, we are now range bound.

The H&S pattern, recognized for its three-peak structure, is widely viewed in technical analysis as a reversal indicator that signals a shift from bullish to bearish momentum once a key support level, or “neckline,” is breached.

According to Brandt, the neckline sits near $1.90—an area XRP must hold to avoid deeper losses. Should that support fail, the pattern projects a move toward $1.07. He defined the current zone of interest by stating:

According to Brandt, the neckline sits near $1.90—an area XRP must hold to avoid deeper losses. Should that support fail, the pattern projects a move toward $1.07. He defined the current zone of interest by stating:

Above 3.000, I would not want to be short. Below 1.9, I would not want to own it. H&S projects to 1.07.

The chart Brandt shared shows XRP fluctuating between resistance at $2.9990 and support at $1.9000, with price last seen around $2.45. The projected downside level of $1.0714, highlighted on the chart, represents a technical target derived from the height of the head-and-shoulders structure. Brandt, anticipating criticism from XRP’s online community, stated: “Don’t shoot the messenger.” He further clarified: “I have no vested interest up or down.”

Despite frequent backlash from XRP supporters, Brandt maintains a measured, data-driven view of the cryptocurrency. His focus lies in price action rather than sentiment or the token’s fundamentals. Reflecting his neutral stance, Brandt previously said on X: “To be clear: I could care less what XRP is going to do. If it goes up, I want to be long. If it goes down, I’ve never shorted it.”

Meanwhile, recent developments have turned bullish for XRP as Ripple settled its lawsuit with the U.S. Securities and Exchange Commission (SEC) for a reduced fine of $50 million, removing a major legal cloud. Institutional interest is rising, highlighted by 21Shares recently listing an XRP ETP on Nasdaq Stockholm, and Ripple CEO Brad Garlinghouse expressing confidence in a future U.S. XRP ETF. Adding to the momentum, President Donald Trump has named XRP as one of the crypto assets to be included in a proposed U.S. crypto strategic reserve, signaling growing political and institutional support.