Peter Brandt Targets XRP for Possible Short Amid Crypto Market Crash

Veteran trader  Peter Brandt includes XRP on his list of tokens he might short, predicting it might fall to $2.2 as Bitcoin’s decline pulls the rest of the crypto market down.

Brandit said he will only short XRP if the descending triangle pattern is completed, with his chart indicating a potential drop to around $2.22. He also noted that if XRP fails to stay above $2.6, it could fall to that level.

XRP Battles to Stay Above $3

XRP is currently struggling to stay above $3 after briefly rising to $2.92, as the wider crypto market experiences a correction.

Despite the hype around a potential XRP ETF, which is expected to attract new investments into the token, a large investor sold 440 million XRP over the past month, signaling weaker demand for the altcoin.

The token is also experiencing its highest level of fear, uncertainty, and doubt since the implementation of Trump tariffs. However, on-chain analytics platform Santiment suggests that this could be positive, as prices often move opposite to retail traders’ expectations.

Analyst Predicts Major XRP Breakout 

Crypto analyst CasiTrades says XRP is set for a breakout as its recent lows have stayed above $2.79, a key support level, and every attempt to drop below it has failed.

Using Elliot Wave theory, CasiTrades noted that XRP might have one small downward move before a big upward surge. She also explained that the current consolidation is meant to tire out and confuse traders.

CasiTrades reminded traders that XRP spent seven years consolidating before rising from $0.50 to $3.66.She added that current small waves are tight, limiting short-term gains to $4.50-$6.50, but larger targets could still reach $8-$13 if momentum stays strong.