The Ripple XRP price trend looks bullish according to analyst Peter Brandt.
We had already talked about Peter Brandt with one of his previous technical analysis about the XRP price that had found its bottom against BTC according to him.
Analysis that seemed right following the evolution of the price of the XRP token.
This veteran analyst, with his experience in trading for decades, is back with a new analysis of the XRP price in which he sees a bullish trend to emerge.
Peter Brandt is bullish on Ripple XRP and evokes a diamond pattern that he currently distinguishes in his technical analysis of Ripple XRP.
Pending a close above .3038 the diamond bottom will be completed with an initial target of .4691 $XRP pic.twitter.com/zQdus7xtp6
— Peter Brandt (@PeterLBrandt) October 25, 2019
If the diamond pattern is known in traditional stock markets, he believes that it can be applied to cryptocurrencies and therefore to the XRP price chart.
Peter Brandt, however, makes a condition for this trend to be confirmed.
The XRP price must close above $0.3038 to confirm the diamond trend he evokes in his Twitter posts.
The analyst, bullish on XRP, gives $0.4691 as a price target for the XRP token if this trend is confirmed.
If the Bitcoin BTC price maintains its upside reversal, the XRP price could follow Peter Brandt’s technical analysis.
This is of course not financial advice but just the opinion of this analyst very present in the crypto community on Twitter.
