Volatility is once again gripping the XRP market, and opinions couldn’t be more divided.
While long-time trader Peter Brandt warns the token could be on the verge of a steep decline, other analysts argue that XRP’s chart is setting up for a powerful rebound.
The uncertainty comes during a sharp market-wide pullback led by Bitcoin, which briefly wiped out gains across major altcoins. XRP, after touching highs near $2.92, has since slipped lower, struggling to maintain momentum amid falling market sentiment.
Brandt, known for his technical precision and at times skeptical outlook on altcoins, told followers he’s eyeing a potential short position on XRP. His outlook centers on a developing descending triangle pattern, a formation that often signals downward continuation. Should that structure complete, he estimates prices could slide toward the $2.20 zone – a level not seen in weeks.
However, not everyone agrees with that bearish projection. Technical strategist CasiTrades believes the current consolidation is masking strength rather than weakness. In her view, XRP’s repeated defense of the 0.5 Fibonacci retracement near $2.79 demonstrates strong buying interest at key macro levels. She considers the ongoing range a setup for a wave-three impulsive rally, a move that could eventually lift the token toward $8-$13 if momentum holds.
CasiTrades compared today’s price behavior to XRP’s earlier multi-year accumulation period between 2014 and 2021, when the token traded sideways before a dramatic breakout above $3.60. “Consolidation doesn’t mark the top – it builds the next move,” she told followers, hinting that the market may be exhausting its sellers.
Meanwhile, on-chain trackers have noticed shifting dynamics among large holders. Roughly 440 million XRP have been transferred by whales in recent weeks, often a precursor to price volatility. Analysts suggest this redistribution could either fuel future liquidity or signal caution from early investors.
Despite the short-term turbulence, sentiment indicators from Santiment show that social pessimism toward XRP has reached its highest level in years – a phenomenon that, historically, has coincided with price recoveries as retail traders capitulate.
The mixed technical signals, whale movements, and macro uncertainty now leave XRP at a crossroads. For traders, the coming weeks could determine whether Brandt’s call for a deeper correction plays out – or if the market proves him wrong with an unexpected surge toward new highs.
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Source: https://coindoo.com/market/xrp-price-traders-divided-as-market-veteran-warns-of-sharp-decline/