XRP’s Descent to $1? Peter Brandt’s Bearish Gambit Unfolds 🐻

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XRP (XRP), that most finicky of digital assets, has retreated with all the grace of a startled goose from its lofty perch of $3.66, now trading beneath $2. Veteran analyst Peter Brandt, ever the dramatist, insists this technical chartwork suggests this dance might conclude with XRP pirouetting toward the $1 mark, much to the delight of pessimists everywhere.

Key Takeaways (for those who haven’t yet abandoned ship):

  • Beneath the $2 threshold, the chart whispers sweet nothings to bears, hinting at a rendezvous with $1.

  • A valiant (yet futile?) rally to test support at $1.78 could, in theory, invalidate the bearish prognosis-though optimism is as scarce as a decent cup of tea in this market.

Is XRP’s Crescendo a Debutante’s Faux Pas?

XRP’s technicals, with their inability to cling to the $2 support level, now teeter on the precipice of a deeper correction. Ah, the ever-charming Mr. Brandt, whose bullish optimism is as fleeting as a summer romance, waxed poetic on X: “A potential double top pattern looms like a poorly written sequel, threatening to send XRP tumbling over the next few weeks or months.”

This “double top” remains a work in progress on the weekly chart (see below). Should XRP close beneath the neckline at $2, the plot thickens. But fear not! If it reclaims this line, we might witness a bear trap-a theatrical twist where bulls gasp, “Wait, was that a trick?”

“Sure, it may fail,” Brandt mused, “but for now, the script is firmly in the hands of the bears.”

“But for now this has bearish implications.”

Should XRP remain below this neckline, the descent could initially target $1.65, where the 100-week SMA lurks like a ghost. Further down, the 200-week SMA at $1.07 offers a last-ditch embrace.

Analyst XForceGlobal, a master of Elliott Wave theatrics, attributes this bearish shift to a wave 3 corrective move-a “5-wave impulse after the triangle breakout,” as if the market were rehearsing for a Shakespearean tragedy.

According to this oracle of waves, XRP could dip toward $1.20-$1.35, setting the stage for a “final pullback that will determine everything needed for the next expansion phase.” Dramatic? Absolutely. Realistic? Well, let’s not jinx it.

CryptoMoon, ever the alarmist, reports the odds of XRP/USDT plummeting to the October 10 low of $1.25 have spiked since the price turned down from the 20-day moving average. A subplot in this grand saga, no doubt.

XRP’s 2018 Fractal: A Mirror to the Past?

XRP’s current chart bears an uncanny resemblance to the 2018 bear market breakdown-a time when hope was as rare as a bear market rally in 2022.

The chart below suggests the $2 region is behaving like a fragile dam, much like it did seven years ago before the 70% plunge. Should history repeat itself, XRP could tumble to $0.60 before staging a comeback to stabilize at $1-a sequel to its 2018 melodrama.

With prices languishing below $2 and sellers in charge, XRP faces a 70% drop to $0.60, followed by a recovery to $1. A rollercoaster ride, darling.

Derivatives activity and onchain positioning are now in a state of disarray, threatening to send XRP to $1. A fate as certain as tea at 5 PM.

Not All Hope Is Lost (Yet)

Despite the bearish chorus, XRP clings to a key support level like a Victorian heroine to her parasol. Bulls must defend this line or face the music of further carnage.

Glassnode’s UTXO realized price distribution reveals a fortress at $1.78, where 1.85 billion XRP were once acquired. A final stand, perhaps?

“XRP needs to hold this support line,” declared Mikybull Crypto, referencing the $1.70-$1.80 demand zone. “Otherwise, it’ll be carnage.”

“Otherwise, it’ll be carnage.”

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2025-12-18 14:02