Peter Brandt Identifies XRP's Complex Head and Shoulders Pattern

Peter Brandt, a seasoned market analyst, has pinpointed a complex head and shoulders top for XRP, suggesting a potential decline to its November 2024 lows, barring a recovery.

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Brandt's recent analysis follows his earlier observations about XRP's current price position. Since early March, XRP has not shown a clear trend, experiencing periods of price stagnation with occasional spikes, yet maintaining a bearish undertone.

In this indecisive phase, Brandt believes that the asset has formed a head and shoulders top. For beginners, this structure is a bearish pattern typically signaling an impending downward trend. It consists of two lower peaks (the left and right shoulders) with a higher peak (the head) between them.

Brandt's chart indicates that XRP formed its left shoulder when it surged to a high of $2.9 in early December 2024, following Donald Trump's election victory. XRP rose from $0.5 in November to $2.9 in December before facing rejection.

After over a month of consolidation, the altcoin rallied again, reaching a new seven-year high in mid-January 2025. Following resistance at $3.4, XRP collapsed amid a broader market downturn.

Interestingly, XRP saw another rally early this month after an announcement from President Donald Trump's social media about the government's plan to include XRP in a national crypto protection zone. On March 2, the asset hit a peak of $3, forming the right shoulder.

With the formation of the shoulders and head, data suggests that the pattern's neckline standard is around $1.9 to $2. This area is particularly crucial as it determines whether the head and shoulders pattern will fully form or if XRP will invalidate it.

In his recent analysis, the market veteran Brandt, who had earlier criticized the asset, acknowledged that if XRP surges above $3, the bearish implications would be invalidated.

However, if the head and shoulders pattern plays out, the seasoned trader anticipates a drop to $1.07. XRP last saw this price level in November 2024 during a significant rally, recovering to $2. A drop below $2 to $1 could prove bearish for the asset in the near term.

In his previous disclosures, Brandt suggested that a drop below the $1.9 neckline could trigger this crash. Currently, XRP is trading at $2.16, down 6.12% in the past 24 hours. An additional 12% crash would bring the $1.9 neckline support into play. Earlier analyses indicated that as long as XRP holds above $2, it remains bullish.