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Trader Peter Brandt Sees Ripple’s XRP Crashing

Trader Peter Brandt Sees Ripple’s XRP Crashing

Peter Brandt, the iconic trader, believes XRP is at risk for a deep price drop. Brandt additionally suggested Ripple may be supporting the price above $0.24. But if that price range fell, XRP may unravel to $0.02.

XRP is one of the worst-performing assets in 2019, remaining stagnant for most of the year. XPR was unable to recover above $0.50 for long, and slid under $0.30 in a gradual decline. XRP slid by a net 30% in dollar prices in the year to date, but also lost around 75% of its value against Bitcoin (BTC).

The decline was due to several factors, including general weakness in altcoins. But XRP also faces unique selling pressures, including Ripple’s stored fund…

This article appeared first on Cryptovest

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