🚨 $XRP — Double Top Warning 🚨
This chart looks really concerning 👀
Famous trader Peter Brandt gave a clear bearish warning at $XRP — and it's hard to ignore.
📉 What's actually happening?
According to Brandt, XRP may have formed a double top, which is considered
one of the most dangerous reversal patterns in technical analysis.
🅼 Double top in simple words:
price goes up ➝ then comes down ➝
goes back to the same level ➝ and fails there.
It means:
buyers are exhausted, and now sellers are taking control.
🔴 Important chart levels:
• The upper black line = strong resistance
(XRP reached there twice and was rejected both times)
• The lower black line = neck line / extremely important support
• Current candle = trying to break below support ⚠️
👉 If the weekly candle closes below the neck line then
this pattern will be confirmed.
🧠 Another bearish signal:
a descending trend line formed at the second top —
which means sellers were active even before the breakdown.
🎯 Where is the target?
Brandt did not say directly,
but according to classic technical analysis:
➡️ $XRP can go back to the $0.50 zone again
if this pattern plays out completely.
🐻 When will the invalidation / bear trap happen?
if XRP suddenly comes back strongly above $2.00
then this setup will fail —
and Brandt himself admits they would be wrong.
⚠️ Result:
at this moment...
data is bearish.
Trade carefully,
and do not ignore risk management.
#Xrp🔥🔥 #CryptoNews #altcoins #TechnicalAnalysis
