Peter Brandt drew attention to Ripple’s formation and gave a bullish signal.
Experienced financial analyst Peter Brandt shared an important technical analysis regarding XRP price movements. Brandt stated that the formation seen in the XRP/USD pair was resolved as a “half mast flag” formation.
In technical analysis, the “half-mast pennant” formation is known as a structure that follows a strong price increase followed by a short-term horizontal consolidation period, after which the rise accelerates again.
Brandt stated that the current outlook indicates an upward movement and pointed out that if the formation resolves, the price could rise by the distance at which it entered the pennant.
This analysis is interpreted as a promising signal for XRP investors. According to Brandt’s assessment, the levels targeted by the formation technically indicate a significant upside potential from XRP’s current price.
The analyses of experienced names such as Peter Brandt are closely followed by market players. XRP investors will be watching carefully in the coming days to see if this technical outlook will come true.
It is not investment advice.