Experienced Trader Peter Brandt pointed out the formation signals that may pose a risk for the Digital Payment Infrastructure tool XRP. In the assessment he shared for his followers on the social media platform, he pointed out that the XRP created a head and shoulder formation in the daily graph.
XRP Technical Analysis
According to Brandt, the head and shoulder structure created indicates that it cannot maintain the rise trend. It was emphasized that this technical structure may be considered invalid if the certain resistance level was exceeded. Otherwise, it was stated that the support level was broken and there may be serious decreases in prices.
Bitcoin at the same time $83,124.85Similar analysis was reported. Brandt said Bitcoin has come out of a certain decrease model and the price may fall to the lower levels. As a result of the support level of the S&P 500 index, the downward movement may continue as a result of the resistance.
The graph that he shares for XRP Coin draws attention to the lock support of $ 1.90. If the price cannot maintain this level, sales can continue up to $ 1.07.
Peter Brandt: “XRP shows the head and shoulder formation in the daily graph.
Fall expectation
Technical indicators throughout the markets, the trend changes can be pointed out. In addition to crypto money markets, similar cautious approaches are observed in traditional markets. Investors were proposed to carefully evaluate the current market conditions.
Peter Brandt: “Bitcoin points out that graphics indicates that the downward movement may continue. S&P 500 has similar cautious evaluations.”
Recently, Young Ju also revised the expectation of ascension and mentioned that crypto currencies could experience tiring decreases for 6-12 months.
Since the analyzes are made considering the general dynamics of the markets, various scenarios are reported to be possible. It was stated that investors should closely follow the technical indicators and take steps according to market movements. The signals are intended to provide information about possible developments rather than exact results.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
