Peter Brandt, the dazzling luminary of commodity trading (and apparent chart-whisperer), has decided to rain on the XRP parade, declaring the current price action “very negative.” Truly, Peter, tell us something we don’t know. 🍸
“I post what I see. I assume strong opinions always weakly held. I am wrong as often as I am right. If you are offended by my charts, then that is your problem
The chart of XRP is potentially very negative”– Peter Brandt (@PeterLBrandt) August 29, 2025
Brandt’s latest masterpiece allegedly reveals that dear Ripple’s darling token is flirting with a descending triangle pattern. If only geometry were so glamorous-alas, it’s really just a chart that’s given up hope and is practicing its downward dog. 🐕🦺
Momentum in Intensive Care
The current “support” (how optimistic) is clinging to $2.78, while a trendline slopes downward, connecting several increasingly disappointing lower highs. In layman’s terms: the token is about as lively as a martini left out overnight.
The triangle continues to contract (not unlike the patience of disappointed XRP holders). Should XRP take the plunge below $2.78, one might expect a dramatic scene as previous “supports” at $2.4 and $1.9 take center stage as new bearish targets. Curtain up, drama down.
XRP’s 6% Swan Dive
XRP, showing its flair for theatrics, nosedived by nearly 6% this Friday. Earlier in the day, it hit a new intraday low of $2.8 on Bitstamp-because even digital tokens need a moment to hit rock bottom and reflect.
On the brink of breaking its own dubious records, XRP is now teetering towards its feeblest level since August 3. It’s also suffering a 24% fall from the dizzying heights of its $3.67 peak on July 18. Someone fetch the smelling salts! 💸😬
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2025-08-29 22:27