- A potential double top
- The target?
Prominent commodity trader Peter Brandt has issued a stern bearish warning regarding XRP.
According to the prominent trader, the popular altcoin has possibly formed a double-top pattern.
A potential double top
A double top looks like the letter “M.” It occurs when an asset rises to a price point, drops to a support level (the neckline), rises back to the same high, and fails to break through it.
The pattern shows that demand is exhausted at that specific high price. Buyers could not push the price higher on the second attempt.
It is only confirmed when the price breaks below the “neckline”. Brandt is pointing out that XRP is currently threatening or breaking this critical support line.
If this pattern confirms, the trend has clearly changed from bullish to bearish.
The top horizontal black line represents the “ceiling.” XRP hit this level twice (once in early/mid-2025 and again recently). The inability to close above this line formed the two peaks of the double top.
The lower horizontal black line is the “floor” of the range. This is the critical “line in the sand.”
The most important data point on this chart is the current candle (the far right red bar).
The price has technically “violated” the neckline. In classical charting, closing a weekly candle below this line confirms the double top.
It is also worth paying attention to the small formation on the second peak. Brandt drew a small downward-sloping trendline. This indicates that even before the major breakdown, sellers were getting aggressive.
The target?
Brandt didn’t write the target price, but a double top allows for a calculated prediction.
If the pattern plays out fully, XRP could revisit the 50-cent region.
However, if the price suddenly reverses and goes back above $2.00 (a “bear trap”), Brandt, who has a historically contentious relationship with the XRP community, will admit the pattern failed. But right now, the data is bearish.
Source: https://u.today/xrp-double-top-warning-issued-by-brandt
