Peter Brandt Warns of Possible Drop Toward $1

XRP, the fifth-largest cryptocurrency, is under pressure after falling nearly 5% today and over 10% this week, briefly dipping to $1.80. Adding to concerns, veteran trader Peter Brandt has warned that XRP may be forming a bearish pattern, and if it fails to reclaim $2, the price could slide toward the $1 level.

XRP Chart Forming a Bearish Pattern

According to a chart shared by trader Peter Brandt, XRP’s weekly chart is showing a possible double top pattern. This usually forms when the price fails to move above $2 and then starts to fall, which can signal weakness.

XRP is now trading near a key support zone between $1.80 and $1.85. If this level breaks, the price could drop further toward $1.50–$1.60, where buyers may try to step in. 

The chart also shows that momentum is weakening, meaning XRP may struggle to rise in the short term.

Based on this setup, Brandt warned that XRP could fall further if buyers do not return soon. He added that while chart patterns do not always play out, they should still be taken seriously when price confirms them.

XRP Price To Dip To $1

Adding to the caution, crypto analyst Ali Martinez also warned that XRP could move toward $1 if selling pressure continues. He pointed out that large holders have been cutting their positions. 

Over the past four weeks, whales have sold more than 1.18 billion XRP, adding extra supply to the market and weighing on price.

Despite these warnings, not everyone agrees with a bearish outlook. Crypto analyst Zach Rector said it is unlikely for XRP to fall back to $1 unless a major unexpected event hits the market. He explained that XRP now has deeper liquidity, steady buying interest, and many long-term holders ready to buy on dips.

Other traders also noted that XRP’s weekly RSI near 33 suggests the token may be oversold. If buyers step in, a short-term bounce could still happen.

Adding a more positive signal, XRP ETFs have crossed $1 billion in inflows since their launch in November, showing growing investor interest despite the current price pressure.