Peter Brandt, an economist and trader with over 50 years of experience, has recently issued a stark warning about the future of XRP. In his latest analysis, Brandt examined XRP’s performance against Bitcoin (BTC) and shared a concerning price prediction.
XRP Could Drop to Zero Against Bitcoin
Brandt, who has been trading since 1975, used an 11-year head-and-shoulders (H&S) pattern to back up his bold claim that XRP’s price could eventually drop to zero when compared to Bitcoin. According to Brandt, if this pattern completes, XRP could become almost worthless against Bitcoin, raising serious concerns among investors.
Despite this dire forecast, Brandt also mentioned that in the long term, XRP could still hold its value against the US dollar, estimating that it might stay around $0.034. However, one user responded to Brandt’s analysis, suggesting that his prediction of XRP maintaining a $0.034 value was overly generous.
A Potential for Growth?
Although Brandt’s outlook for XRP against Bitcoin is grim, he did leave the door open for a potential upside. He pointed out that XRP might still have room to grow. Brandt shared a monthly XRP/USD chart and noted the possibility of a bullish continuation triangle forming, hinting that XRP could see gains in the future if this pattern plays out.
This is an X post that many will screenshot and remind me of often for years to come
Does everyone know that Ripple actually is formal name for “RIP PPL OFF ” $XRPBTC
Chart has an 11-year complex H&S that ONLY IF completed projects price to ZERO Bitcoin
Good news for the day! pic.twitter.com/KGodcqUn64— Peter Brandt (@PeterLBrandt) October 3, 2024
Peter Brandt’s warning comes at a critical time for XRP investors, and while his predictions suggest caution, he also acknowledges that the crypto market is full of surprises. The market will be watching closely to see how XRP performs in the coming months.
