With over fifty years in the financial markets, the experienced trader Peter Brandt occasionally shares his insights on cryptocurrencies, especially altcoins. His latest evaluations are invaluable for those looking to view charts through a different lens. But what are his expectations?
XRP Coin Trader Insight
Brandt is one of the most well-known traders on social media, and his assessments are closely watched. Approximately one hour ago today, he shared his evaluation for one of the spotlighted players in crypto, Ripple (XRP) 
$1. Although Peter has maintained a distance from crypto over the years, he remains objective while analyzing its technical structures.
Today’s evaluation of XRP Coin included concerns about a potential decline. He warned investors with these words:
“I share what I see. I always have strong opinions, weakly held. I am often wrong as I am right. If my charts disturb you, that’s your problem.
XRP chart is potentially very bearish.”
The analyst noted the deterioration in the structure in the shared chart above. While the excitement of upward movement seems to have waned due to the formation of lower highs, ETF approvals expected potentially before year’s end could revive it.
The key support point stands at $2.78, with a threshold of $2.39 below it.
On March 26, when Peter talked about spotting a head-and-shoulders formation, he mentioned that shorting at $3 and longing at $1.9 was risky. Although within months we saw new peaks above $3, the price hasn’t retreated to the fearful region. The target for the formation formed in the conditions of that day was $1.07, so it wouldn’t be surprising if Peter was wrong again. Below is the chart from March 26.
Bitcoin (BTC) Concerns
As the article was being prepared, Lisa Cook’s hearing was taking place. A few days prior to Trump’s claim of gaining Fed’s majority, he fired her at the start of the week. However, there is a dispute over whether Trump has the legal authority to do so. Cook took the matter to court, and as a result, BTC is testing the $108,000 floor. As the Fed’s politicization and uncertainty evoke negativity, we are heading into a fantastic September.
In 19 days, the Fed will announce its rate decision, but it’s yet unclear if one of the seven voting members will be leaving office. If the new interest rate decision does not meet Trump’s expectations, he may even question its legitimacy because Cook is still present.
Ali Martinez also warns investors.
Martinez expresses concern that if BTC loses $108,700, a sharp drop to $94,000 may follow.
