XRP’s recent slide in the market rankings has reignited bearish discussions among traders, with veteran analyst Peter Brandt warning that the token could be heading toward deeper losses if key technical levels fail to hold.
In a recent X post, Brandt pointed to a descending triangle pattern forming on XRP’s chart – a structure often associated with weakening buying pressure. According to his analysis, a close below $2.68 could trigger a sharp decline, potentially dragging the token toward the $2.20 region.
The chart shared by Brandt illustrated how XRP continues to post lower highs while clinging to horizontal support near $2.6. Repeated rejections above $3 have further dampened sentiment, with traders increasingly cautious about another downside move.
The technical warning comes as XRP faces growing competition in the crypto rankings. Binance Coin (BNB) recently overtook XRP to become the third-largest cryptocurrency by market capitalization, reaching a record high above $1,300 and lifting its valuation to roughly $178 billion. XRP now trails slightly behind with a $177 billion market cap.
The shift underscores changing investor appetite as capital flows toward outperforming assets. While XRP has maintained relative stability over the past months, it has struggled to generate the same momentum that fueled earlier surges. Analysts suggest that a decisive break below current support could invite further volatility in the coming weeks.
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Source: https://coindoo.com/xrp-price-market-expert-sees-risk-of-major-collapse-ahead/