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As of the writing of this article, BTC’s price briefly surpassed $105,300 before retreating back to the $104,900 range. There is currently no significant momentum shift observed in cryptocurrencies overall. However, XRP Coin is showing positive distinction as it attempts to solidify its support level at $3.1. So, what does renowned technical analyst Peter Brandt anticipate?
XRP Coin Chart Analysis
With decades of experience in technical analysis, Peter Brandt is closely monitored by cryptocurrency market participants. While he rarely comments on altcoins, he highlighted a bullish flag in a chart he shared a few hours ago, stating:
“To be honest: I don’t care what XRP does. If it goes up, I want to go long. If it drops, I’ve never shorted but prefer to troll.”
“Right now, there’s no way to define the chart other than as a bullish flag. Of course, this could change.”
If the bullish flag breaks upward, we could see a rally towards $4.39 following closures above $3.54.
Poppe’s Market Forecast
China’s AI has significantly dampened positive sentiment, leading to short-term losses for altcoins. While BTC has returned to previous levels, many altcoins still find themselves at new lows, struggling to recover even half of their losses. There won’t be anticipated rises in altcoins unless a clear downward break is seen in BTC’s market dominance.
Liquidity remains shallow, making downturns lead to more negative outcomes. However, a return of liquidity to altcoins could bring back better days. Michael Poppe continues to express an optimistic outlook on the markets, stating:
“Markets are showing significant signals that utility coins and the ETH ecosystem will develop as the next ecosystem. Why? SUI indicated strong upward divergences at lower HTF levels and resulted in movements of 200% and 500% against Bitcoin 
$108,250. The same can be observed now in $OP, $W, $OMNI, and more.”
SUI Coin is among the lucky ones; however, there are others that have dropped to new all-time lows against BTC. Even ETH has retreated to previous lows, reaching the 0.03 BTC region.
