Economist and author Peter Brandt, who stated that he has been trading on the stock market as a trader since 1975, made a new analysis on the XRP price in his latest statement.
The analyst with 50 years of experience evaluated the performance of XRP against Bitcoin (BTC).
Brandt, who claimed that the XRP price would fall to zero against Bitcoin at this point, based his prediction on the head-and-shoulders (HS) model covering an 11-year period.
The analyst warned that the completion of this pattern could render the XRP price almost worthless against Bitcoin.
Brandt, in addition to his negative predictions, also stated that XRP will maintain its value at $0.034 in US dollars in the long term. Reacting to this prediction, one user said that Brandt was being too generous by saying that XRP will maintain its value at $0.034.
Brandt added that while he was bearish against Bitcoin, there is a possibility that XRP could rise. To support his bullish outlook, Brandt shared the XRP/USD monthly chart and said that there is a possibility of a bullish continuation triangle forming.
The good news is that XRP will retain a value of 3.4 U.S. pennies in USD terms
— Peter Brandt (@PeterLBrandt) October 3, 2024
*This is not investment advice.
