- Peter Brandt warns that there is a possibility that it may fall to $ 1 by calling XRP.
- The XRP was relatively overestimated, but the optimistic market structure was still not damaged at the time of this writing.
Ripple (XRP) Despite the recent optimistic update on the SEC litigation front, it has not been decisively surge to $ 2.5 or higher. It was still on the Q1 decline and it was recorded from record maximum $ 3.4 to 30%.
In fact, the famous price chart analyst Peter Brandt expects that if Altcoin slides less than $ 1.9, it can collide 43%. that quotation The weak formation of H & S patterns is aimed at $ 1.07 if it is verified.
“$ XRP is forming a textbook H & S pattern. So we are now a range bound. 3. Thousands of them do not want to be short. Less than 1.9, I will not own it. H & S project 1.07”.
Source: X
Do you agree with the XRP on Chain signal?
Some hotint signals have similar weak prospects. Weekly average XRP ledger activity address Rejected 62%of March 28k from 74K users of Peak in December.
According to Santiment’s MVRV Z score, XRP is still relatively overestimated at the current level. The indicator tracks whether assets are overestimated compared to the price.
Since more holders can benefit and sell, the above reading can be considered ‘expensive’. On the contrary, the score value of less than MVRV Z is recognized as ‘undervalued’.
Source: Santiment
In the case of Ripple, the metrics have risen more than December 6 and 2.8 for the prestation time. In short, long-term holders had a 2.8x-6x un realized profit and potentially booked profit and tank XRP.
However, the level of accumulation in the last seven -day trading days did not support the weakness.
Source: COINGLASS
According to the CoingLass data, this week’s $ 43 million XRP was withdrawn from the exchange. Overall, it suggests that in March, $ 290 million, worth $ 290 million, exchanged, and some players can expect additional rally. Will their long bets be realized?
Source: XRP/USDT, TradingView
From a price chart point of view, the level of $ 2 (cyan) and $ 1.4 (white) was the main support for watching before the goal of Brandt.
In addition, the price measure still meant that the optimistic market structure of XRP was still not damaged at least at least this article.