The legendary trader Peter Brandtknown to be a long-term critic of XRP (CRYPTO:XRP), deemed the Cryptocurrency‘s price chart the “most powerful” on Sunday.
What happened
Brandt, a seasoned chartist with nearly 50 years of experience, used X to highlight XRP’s breakout of a symmetrical triangle pattern.
“This is the most powerful chart in the entire cryptocurrency world,” he wrote, sparking the interest of his followers.
This the most powerful chart in all of crypto world $XRPUSD pic.twitter.com/UexaPB4D9r
— Peter Brandt (@PeterLBrandt) December 7, 2024
For the curious, a symmetrical triangle is a chart pattern characterized by two converging trend lines. They reflect a pause in the current trend as bulls and bears find balance. However, when the price firmly breaks the triangle, it means the beginning of a new trend.
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In the given case, Brandt identified XRP’s bullish breakout after 7 years, leading him to issue a bullish forecast.
A user of X, who calls himself protectorsaid: “Even Peter is noticing.”
Even @PeterLBrandt is coming around… https://t.co/0eRb0IjPdJ
— protechtor (@protechtor) December 8, 2024
another user, PharaohX33, He also mocked Brandt’s change of perspective, saying, “Grandpa finally opened his eyes.”
Grandpa has finally opened his eyes. $XRP https://t.co/1ej5VvJsk8
— 𓂀 (@PharaohX33) December 8, 2024
Photo courtesy of Shutterstock
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