Analysis by trader Peter Brandt suggests XRP price is heading to new highs
Popular within the crypto community and recognized for his technical analysis skills, whether trading in stocks or cryptocurrencies, veteran trader Peter Brandt has posted a graphical analysis of the XRP-USD trading pair which suggests that Ripple XRP price is heading to new all-time high.
His analysis indicates a “reverse head and shoulders” and predicts a return of the price of Ripple XRP towards much higher prices.
“In case you trade this (I don’t)
Coin is enjoying SEC ruling and the madness of crowds Weekly chart H&S patterns are too often not to believed. But sometimes they come true.
This possible inverted H&S with stunted RS would indicate prices a boat load higher (new ATHs).”, he wrote on his Twitter account.
In case you trade this (I don't)
Coin is enjoying SEC ruling and the madness of crowds
Weekly chart H&S patterns are too often not to believed. But sometimes they come true.
This possible inverted H&S with stunted RS would indicate prices a boat load higher (new ATHs). $XRP pic.twitter.com/TQdEV5j8Dv
— Peter Brandt (@PeterLBrandt) April 9, 2021
Same thing on XRP trading pair with Bitcoin BTC
Peter Brandt has also published an analysis of the XRP-BTC trading pair and sees it as a strong buy signal.
“This is called a compound fulcrum and can be a quite powerful buy signal.”
— Peter Brandt (@PeterLBrandt) April 6, 2021
Bullish perspective therefore for the XRP price which is recovering, to the delight of the holders of this more than controversial token and in the midst of a lawsuit with the SEC.
It must be said that things are starting to tilt in favor of Ripple Labs, the judge recently validated Ripple’s request for the SEC to provide internal documents that relate to discussions regarding the status of BTC, ETH and XRP.
Ripple intends to demonstrate that the XRP token must have the same status as Bitcoin or Ethereum.
The SEC is going to have to explain why it referred to XRP as a digital currency in the past, only to then decide that the token is now a share of the Ripple company.
Some crypto exchanges are starting to relist the XRP token like Lykke or CoinGate which relaunches XRP trading, except for Americans.
Last positive news for Ripple, the judge refused the request of the SEC which asked to see the personal financial record of the CEO of Ripple, judging that this request is not relevant in view of the lawsuit which must rule on the nature of the XRP token.
Accordingly, the Court finds that the SEC's requests for the Individual Defendants' personal financial records, apart from those records of XRP transactions
— James K. Filan (@FilanLaw) April 9, 2021
An XRP price rising today at $1.18 on Kraken.