Today, 50-year-old trader Peter Brandt shared the XRP Coin chart, which he described as historical. Chart history because if he’s right XRP Coin will experience a huge drop in speed, which is rare. Peter does not post about cryptocurrencies very often and is very interested in XRP Coin. That’s why his latest chart is remarkable.
Historical XRP Coin Target
Peter Brandt has been trading since 1975 and is one of the oldest people you’ll ever see posting crypto-related charts. Half a century of trading experience has given him the ability to see many formations while they are still forming. He also deserves respect because he was born early in many formations and most of them were not visible when he was trading.
Sharing the chart above, Brandt thinks there may be a double top here.
“I already know that all the Riplosts will forever remind me of this article – ask me if I care, no I don’t.
This is a potential double top. Of course, it might fail, and if it does, I’ll deal with it. But for now there is a downward trend here. Like it or not – you have to deal with it.”
If he’s right XRP Coin It could form a major bottom extending to $1. of BTC The sudden rise and fall experienced today are a sign of upcoming volatility. There will be big developments in the next 2 days. There is a widespread view that January will start with much larger developments and shallow volatility will reverse. Therefore, Peter’s warning should not be ignored as the possible negative scenario becomes dominant.
Altcoin Dominance Chart
Many altcoins have failed to hit last year’s highs this year, and some have fallen to deeper bottoms. Now many of them are close to those lows. DaanCrypto is here to understand the current situation by using OTHERS (top 10) cryptocurrency He discussed the chart of the remaining cryptocurrencies (most of the altcoins) when you throw them out. What is interesting is that OTHERS Dominance has been declining from January 2022 to date.
“OTHERS.D gives a good overview of overall altcoin strength and dominance. What we can see here is that we are basically back to the October 10 (big drop) level right after the wild wicks formed. Prices rose from that point into November, but have since stalled and lost a lot of value again.”
A major support area is coming soon and it’s worth taking a look. “But some big jumps aside, this has basically been in decline since January 2022.”
