Veteran trader Peter Brandt has issued a bearish warning on XRP price, citing a potential double-top formation despite Ripple's accelerating ecosystem growth through multichain stablecoin expansion and new institutional trading tools.
What Happened: Chart Pattern Warning
Brandt identified what he considers a potentially bearish setup on the XRP price chart.
The double-top pattern typically signals waning bullish momentum when an asset fails to break above resistance after two attempts.
"I know in advance that all you Riplosts will forever remind me of this post — ask me if I care. This is a potential double top," Brandt wrote. He acknowledged the pattern could fail but maintained it carries bearish implications.
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Why It Matters: Conflicting Signals
Analyst Steph is Crypto countered with historical data showing XRP has spent roughly 70 days below its 50-week simple moving average. Past cycles at this level preceded rallies of 211%, 70%, and 850% in 2017, 2021, and 2024 respectively.
Meanwhile, Ripple announced on Dec. 16 that its stablecoin RLUSD will expand to Optimism, Base, Ink, and Unichain using Wormhole's Native Token Transfers standard.
The stablecoin operates under a trust charter from the New York Department of Financial Services.
Digital Wealth Partners recently launched an algorithmic XRP trading strategy for qualified retirement accounts with insured custody through Anchorage Digital, reflecting growing institutional integration.
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