Brandt Sees Potential Inverse Head-and-Shoulders on XRP Chart

Peter Brandt, a veteran trader, has turned his attention to XRP once again. In his latest chart analysis, he notes that the crypto's price charts alone provide reason to consider a trade, despite previous skepticism towards XRP's fundamental valuation.

The chart highlights a potential inverse head-and-shoulders structure near $1.52 and places the current setup within more than a decade of XRP price history. Two historical multi-year breakout structures are also shown on the chart.

XRP is currently testing a neckline around $1.50-$1.55, while the chart's ADX stands at 28.74 and weekly SMA near $1.3244. Brandt emphasizes that investors do not need to become 'certified cult members' to be interested in XRP, stating that 'the charts alone have always been enough reason for us to make a bet.'