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Popular analyst Peter Brandt has given a bearish prospect for the XRP price, predictively that the Altcoin could fall under the support of $ 2. As part of his analysis, he emphasized a head and shoulder pattern that could cause the degradation of $ 2.
Peter Brandt identifies XRP head and shoulder pattern
In one XIt revealed that XRP forms a head and shoulder pattern, so that the Altcoin has reached. He added that the main and shoulder pattern projects a price drop to $ 1.07. The corresponding graph of the analyst showed that XRP could see a free fall of this purpose if the de $ 1.9 support.
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CasiTrades from Crypto analyst Had recently also increased the possibility that XRP fell to $ 1.54. She revealed that a break under the support of $ 2.25 and a lower support for $ 1.90 could lead to this breakdown to $ 1.54. However, the analyst suggested that the chance of this event was very low, because the support of $ 2.25 really retains strong.
Meanwhile, Crypto analyst Ali Martinez Also discussed the main and shoulder pattern that had formed for the XRP price. In an X-post he stated that if XRP can break above $ 3, this would invalidate the current main and shoulder pattern, a development that could turn the prospects from the Altcoin to Bullish. In his analysis, Brandt also hinted that a rally above $ 3 could make the bearish pattern invalid.
The accompanying graph of Martinez showed that XRP could fall to as low as $ 1.25 as this main and shoulders pattern Plays. In another post he again increased the possibility of XRP that suffered this price extension, while stating that the price level of $ 2 remains the critical level of support for the crypto.
Bullish Outlook for the Altcoin
In an X post, Crypto analyst Dark Defender Provided for a bullish prospect for the XRP price, predicting it could reach up to $ 23.20. The analyst claimed that the third wave focuses on a meeting between $ 5.85 and $ 8.076. In the meantime, the fifth wave is expected to end the movement between $ 18.22 and $ 23.20.
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This prediction came as part of the analysis of Dark Defender of the 3-month candle. He confirmed that XRP has a clear one Bullish Momentum About this higher period. He added that there are ups and downs in smaller time frames, but the higher frames replace the smaller ones.
In another message, the analyst assured that the consolidation of XRP will soon be over. He revealed that the Altcoin has formed a great bullish rectangular pattern and that the next leg will send it to new highs of all time (ATHS).
At the time of writing, the XRP price acts according to around $ 2.25, according to more than 4% in the last 24 hours, according to facts Van Coinmarketcap.
Featured image of Istock, graph of TradingView.com