$XRP is flashing a serious technical warning, and this time it’s not coming from a random chart watcher. Veteran trader Peter Brandt has highlighted a potential Double Top formation on the higher time frame, a pattern that often appears near major market tops.
If confirmed, this setup could signal a meaningful downside move ahead.
What Is Happening on the Chart?
According to Brandt’s analysis, XRP may have already completed the structure of a Double Top, one of the most well-known bearish reversal patterns in technical analysis.
In simple terms, a Double Top forms when price:
Rallies to a resistance level
Pulls back
Rallies again to the same level
Fails to break higher
This price behavior usually means buyers are losing strength while sellers begin to take control.
Key Levels to Watch
The chart currently highlights three critical areas:
Major Resistance: XRP has tested the same upper level twice and failed both times, creating the two “tops.”
Neckline Support: The lower horizontal level acting as critical support.
Current Price Action: XRP is already slipping below this support zone, which increases downside risk.
A weekly close below the neckline would officially confirm the Double Top pattern.
Additional Bearish Signal
An important detail noted by Brandt is the presence of a descending trendline during the second top. This suggests sellers stepped in earlier than before, a sign of weakening bullish momentum even before the breakdown occurred.
This kind of behavior often precedes stronger sell-offs.
Downside Target
Brandt did not publish an exact price target. However, using classic technical measurements from a Double Top, the projected move points toward the $0.50 area if the pattern fully plays out.
This is not a prediction, but a technical projection based on historical market behavior.
When Is This Analysis Wrong?
No setup is guaranteed. This bearish scenario would be invalidated if XRP:
Reclaims and holds above $2.00
Breaks the structure that defines the Double Top
Even Brandt has stated that such a move would prove this analysis wrong.
Bottom Line
Right now, the data leans bearish. That does not mean panic selling, but it does mean traders should be cautious, manage risk, and avoid emotional decisions.
In volatile markets, capital protection matters more than catching every move.
Are you seeing similar warning patterns on other altcoins? Let the community know so everyone stays alert.
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