Ripple’s native Cryptocurrency XRP is currently trading in the $2.35 range on Monday. Major altcoins remain in the green environment of the spectrum, and have skyrocketed by more than 300% in a year. Cryptocurrency is one of the best performing assets this year, more than tripling the money of investors in a short period of time.
The Ripple Foundation has also expanded its operations across various sectors and has formed a partnership with the government to maintain a financial-based blockchain ledger. Real-world use cases are expensive as they solve many of the problems that plague the financial environment. XRP is poised to benefit from development, and the long-term outlook looks good.
Ripple: Peter Blunt warns that XRP can immerse 54%, and could then reach $1.07
Veteran trader and analyst Peter Brandt warned that XRP’s short-term trajectory is bearish. He gave a chart showing that Altcoin forms a head and shoulder pattern. Blunt warned that the head and shoulder pattern could cause XRP to crash to $1.07 in the next.
This is a downward tick that is nearly 54% from its current price of $2.35. So, if Brandt’s warning turns out to be accurate, a $1,000 investment could be $460. This puts Ripple’s native token in a dangerous position as prices may have peaked after a 330% spike.
“Updating the chart for those interested, I don’t raise or lower vested interests. XRP forms the H&S pattern in textbooks. So we are currently tied up above 3.000. I don’t want to go below 1.9. I don’t want to own it. The H&S project won’t be at 1.07. He wrote to X.
Apart from Ripple’s XRP, the major meme currency Shiba Inu is also predicted to immerse itself in the index. Check how Shiba inu will next fall on the chart and the best entry position possible when the price bottoms out.
