Peter Brandt Warns of Bearish XRP Chart Pattern Despite Ripple’s Ecosystem Growth
Veteran trader Peter Brandt has issued a bearish caution on XRP’s price action, pointing to a possible double-top formation on the chart—despite Ripple continuing to expand its ecosystem through multichain stablecoin adoption and new institutional trading solutions.
What Happened: Technical Warning
Brandt highlighted what he believes could be a developing double-top pattern on XRP’s price chart. This formation is commonly viewed as a bearish signal, suggesting weakening bullish momentum when price fails to break above a key resistance level after two attempts.
“I know in advance that all you Riplosts will forever remind me of this post — ask me if I care. This is a potential double top,” Brandt wrote. While acknowledging that the setup could fail, he emphasized that the pattern still carries downside risk.
Why It Matters: Mixed Market Signals
Not all analysts agree with the bearish outlook. Crypto analyst Steph is Crypto pointed to historical trends showing XRP has spent approximately 70 days below its 50-week simple moving average. In previous cycles, similar conditions preceded major rallies of 211%, 70%, and 850% in 2017, 2021, and 2024.
On the fundamentals side, Ripple announced on December 16 that its RLUSD stablecoin will expand to Optimism, Base, Ink, and Unichain through Wormhole’s Native Token Transfers standard. RLUSD operates under a trust charter issued by the New York Department of Financial Services, strengthening its regulatory standing.
Adding to institutional momentum, Digital Wealth Partners recently introduced an algorithmic XRP trading strategy for qualified retirement accounts, featuring insured custody via Anchorage Digital.
