Experienced analyst Peter Brandt has drawn attention in the cryptocurrency realm with a stark prediction for Ethereum 
$2,569. Brandt asserts that the price of Ethereum could drop to as low as $800, basing his forecast on technical analysis. He points to a descending triangle formation that may indicate a more significant price breakdown. Currently, he emphasizes that the critical support level stands at around $1,500, suggesting that a fall below this level could lead to a swift collapse of Ethereum.
Peter Brandt: “ETH Could Drop to $800”
Brandt’s shared price chart reveals that Ethereum is technically under pressure. He notes that the descending triangle pattern signals a long-term bearish trend, warning that if the price breaks below $1,500, a substantial decline could be triggered. According to Brandt, the price levels around $800, tested in 2022, may come back into play.
Over the past year, the price of Ethereum has lost over 46% of its value. Recently, the Fed’s decision to maintain interest rates led to a decline in Bitcoin 
$109,356, which also affected ETH. During Brandt’s prediction, Ethereum was trading at around $1,587, and it currently stands at $1,596. It is also noteworthy that Brandt previously described Ethereum as “worthless scrap.”
In a different viewpoint, renowned NBA player Scottie Pippen suggested that a significant altcoin season is about to begin. Pippen highlighted historical models emerging after Bitcoin’s block reward halvings, asserting that Ethereum would benefit positively from this process. He openly expressed his optimism for the Ethereum ecosystem, developing a project focused on artificial intelligence, gaming, and the tokenization of real assets.
Another prominent figure, Justin Sun, announced his intention to continue collaborating with Ethereum developers and to hold onto his ETH without selling. Sun emphasized his vision for jointly developing the cryptocurrency ecosystem. Such statements suggest that despite the price weakness, confidence in Ethereum has not entirely dissipated.
XRP Surpasses Ethereum in FDV
The challenges facing Ethereum extend beyond just technical analysis. XRP’s fully diluted market value (FDV) has surpassed Ethereum’s, reaching $208.4 billion, while Ethereum’s FDV is approximately $192.5 billion. It’s essential to note that FDV represents a theoretical value that also includes coins yet to be released into the market.
In terms of actual market value, Ethereum still leads XRP due to its circulating supply. However, XRP has seen an increase in its FDV driven by regulatory clarity, enhanced institutional interest, and growth in cross-border payments. In contrast, recent updates on Ethereum have altered its tokenomic structure, making competition with alternative blockchains increasingly challenging.
