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Peter Brandt Predicts XRP Could Drop to $2.2 If This Happens

Veteran trader Peter Brandt has predicted that XRP could drop to as low as $2.2 based on a descending triangle that was possibly playing out.
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Peter Brandt Predicts XRP Could Drop to $2.2 If This Happens

Highlights

  • Brandt stated that XRP could drop to $2.2 if it closes below $2.68.
  • The veteran trader alluded to a descending triangle that was playing out for the altcoin.
  • XRP has lost its position to BNB as the third largest crypto by market cap.

Veteran trader Peter Brandt has dropped another XRP analysis, in which he revealed what could lead to a price drop to as low as $2.2. This follows the altcoin’s drop in the crypto rankings, with BNB surpassing it to become the third-largest crypto by market cap.

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Peter Brandt Reveals How XRP Could Drop To $2.2

In an X post, the veteran trader stated that the altcoin could drop to $2.22163 if it closes below $2.68743. This came as he highlighted a classic descending triangle, which was developing for the altcoin.

His accompanying chart showed how XRP has been forming a series of lower highs with a horizontal support line at around $2.6, indicating a weakening demand for the altcoin. The altcoin has notably failed to hold above the $3 level despite several retests and now looks at risk of a potential price breakdown, as Brant warned.

Amid the struggle to hold above $3, XRP has lost its position as the third-largest crypto by market following the BNB price rally to a new all-time high (ATH) above $1,300. BNB now has a market cap of around $178 billion, while XRP boasts a market cap of $177 billion.

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The Bullish Outlook For The Altcoin

On the other hand, crypto analysts like CasiTrades have provided a more positive outlook for XRP. She noted that the altcoin’s price has respected the $3 zone for a few days and that momentum is gradually building.

The analyst added that consolidation like this often sets up a high-probability breakout. CasiTrades believes that this support will continue to hold and increase the likelihood of the market entering a Wave 3 up. She declared that the next wave could be sharper and longer than what market participants have seen in recent months.

As CoinGape earlier reported, on-chain analytics platform Santiment stated that XRP is flashing a buy signal. The platform explained that the altcoin is seeing its highest level of FUD since the Trump tariffs, which is generally a “promising buy signal” as prices move opposite to retail’s expectations.

Crypto analyst Ali Martinez stated that XRP was facing a major test at $3.15. However, a breakout from that level could trigger a rally to $3.60. Meanwhile, CasiTrades highlighted $4 and $4.50 as the major resistance targets looking ahead.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor with a focus on macro topics, crypto policy and regulation and the intersection between DeFi and TradFi. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand. Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing. Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
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