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Veteran chart analyst&nbsp;<a href="https://twitter.com/PeterLBrandt/status/1818979499716772002?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1818979499716772002%7Ctwgr%5Eaa96835cf3b50cbfdd0114218d90f7a992442aa2%7Ctwcon%5Es1_c10&amp;ref_url=https%3A%2F%2Fpublish.twitter.com%2F%3Furl%3Dhttps%3A%2F%2Ftwitter.com%2FPeterLBrandt%2Fstatus%2F1818979499716772002" rel="noopener noreferrer nofollow">Peter Brandt</a> continues to excite the crypto space with his reviews. This time it was&nbsp;<a href="https://u.today/abnormal-2764-imbalance-stuns-xrp-whats-happening" rel="noopener noreferrer nofollow">XRP</a>, as the trader shared an alarming forecast for the popular cryptocurrency, emphasizing a potential decline against Bitcoin. Specifically, he identified a multi-year complex head-and-shoulders pattern forming on the XRP/BTC chart.
The head-and-shoulders pattern is a technical indicator that indicates a reversal of an uptrend and often predicts a bearish shift in the market. According to Brandt, if the chart breaks the "neck," or lower support line in other words, it could signal a significant drop in the value of XRP, namely from 0.000008 BTC per XRP to 0.0000002 BTC, a 97.5% drop.&nbsp;
<blockquote>
 This chart pattern is a multi-year complex H&amp;S. If this chart penetrates the lower support line then all <a href="https://twitter.com/X?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@X</a> accounts with XRP initials attached will slowly disappear to never again be seen again <a href="https://t.co/tJEJSEvKv8" rel="noopener noreferrer nofollow">pic.twitter.com/tJEJSEvKv8</a>— Peter Brandt (@PeterLBrandt) <a href="https://twitter.com/PeterLBrandt/status/1818979499716772002?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 1, 2024</a>
</blockquote>
This will cause accounts with XRP initials to disappear from social media, Brandt says.&nbsp;
<h2 dir="ltr" id="on-the-other-hand">On the other hand</h2>
In contrast, another prominent analyst, Ali Martinez, offered a more optimistic outlook just two days earlier.
Martinez noted that XRP has been consolidating within a symmetrical triangle for the past six years. This pattern, known for its potential to indicate a continuation of the current trend, suggests that the token could experience a bullish breakout if its price exceeds the $0.90 mark. Symmetrical triangles often signal significant price movement, and a breakthrough resistance could lead to a rise in the price of&nbsp;<a href="https://u.today/crucial-warning-issued-to-xrp-community-in-wake-of-this-ripple-announcement" rel="noopener noreferrer nofollow">XRP</a>.
While Martinez's forecast is based on XRP's performance over the past six years, Brandt's analysis spans a decade and focuses on the relative strength of XRP against&nbsp;<a href="https://u.today/legendary-trader-peter-brandt-exposes-worrying-bitcoin-price-pattern" rel="noopener noreferrer nofollow">Bitcoin</a>.&nbsp; <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="c74de7ae-141e-4d2f-8c2e-a76e206cbdd7" src="https://u.today/sites/default/files/inline-images/xrpprice_16.png">XRP to USD by <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
Amid these conflicting predictions,&nbsp;<a href="https://u.today/us-t-bills-coming-to-xrp-ledger" rel="noopener noreferrer nofollow">XRP's price</a> experiences a decline, losing 8.4% over the past 24 hours. Despite this setback, the token had a strong start to the week, with quotes surging by as much as 11%. As things stand, XRP is trading at $0.60, with a 0.63% increase since Monday.

'All X Accounts with XRP Initials Will Disappear': Peter Brandt Issues XRP-to-Bitcoin Warning

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