Veteran trader and chartist Peter Brandt has issued a bearish technical warning for XRP, suggesting the token may be forming a classic double-top reversal pattern. Brandt highlighted on social media that XRP has twice failed to break above a key resistance level, with the price now threatening to close below the critical "neckline" support. He stated, "This is a potential double top," and acknowledged that while the pattern could fail, it currently carries bearish implications. A full confirmation of the pattern could, according to classical charting, project a price target back toward the $0.50 region.
This technical caution arrives despite a period of strengthening fundamentals for XRP and its ecosystem. Ripple is actively expanding the reach of its New York Department of Financial Services (NYDFS)-regulated U.S. dollar stablecoin, Ripple USD (RLUSD). On December 16, the company announced RLUSD's expansion to Layer 2 networks including Optimism, Base, Ink, and Unichain, leveraging Wormhole's Native Token Transfers (NTT) for interoperability. Wormhole further noted that XRP holders will be able to use XRP alongside RLUSD as a premier cross-chain trading and liquidity pair, facilitated by wrapped XRP (wXRP).
Concurrently, institutional access to XRP is growing. Digital Wealth Partners recently launched an algorithmic XRP trading strategy for qualified retirement accounts, offering insured custody through Anchorage Digital. This provides high-net-worth investors a regulated, tax-advantaged avenue for systematic XRP exposure.
Countering Brandt's bearish view, other analysts point to bullish historical context. Analyst Steph is Crypto noted that XRP has spent roughly 70 days below its 50-week simple moving average (SMA), a condition that in past cycles—such as in 2017, 2021, and 2024—preceded significant rallies ranging from 70% to 850%. This creates a stark divide between near-term technical warnings and long-term adoption and utility narratives.
