{"id":134841,"date":"2024-08-04T08:00:42","date_gmt":"2024-08-04T05:00:42","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=134841"},"modified":"2024-08-04T02:29:52","modified_gmt":"2024-08-03T23:29:52","slug":"top-trader-predicts-bearish-outlook-for-xrp-against-bitcoin","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/top-trader-predicts-bearish-outlook-for-xrp-against-bitcoin\/","title":{"rendered":"Top Trader Predicts Bearish Outlook for XRP Against Bitcoin"},"content":{"rendered":"<p>Brandt stated that <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/xrp\/\">XRP<\/a><\/strong>, a popular payments network, might be forming a head and shoulders (H&amp;S) pattern against <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin<\/a> <\/strong>(XRP\/BTC) on the weekly chart. An H&amp;S pattern is typically viewed as a bearish reversal in technical analysis.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">This chart pattern is a multi-year complex H&amp;S.<br>\nIf this chart penetrates the lower support line then all <a href=\"https:\/\/twitter.com\/X?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">@X<\/a> accounts with XRP initials attached will slowly disappear to never again be seen again <a href=\"https:\/\/t.co\/tJEJSEvKv8\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/tJEJSEvKv8<\/a><\/p>\n<p>\u2014 Peter Brandt (@PeterLBrandt) <a href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1818979499716772002?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">August 1, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Brandt forecasts a sharp decline for XRP\/BTC if it falls below its key support level around 0.000008 BTC. He suggests that if XRP breaks this multi-year complex H&amp;S chart pattern, accounts associated with XRP will gradually fade away.<\/p>\n<p>Brandt also pointed out that Bitcoin is exhibiting patterns indicative of weakness, noting the ongoing series of lower highs and lower lows for BTC.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/ethereum-price-forecast-by-economist-peter-schiff\/\" title=\"Ethereum Price Forecast by Economist Peter Schiff\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2023\/10\/ethereum-coins-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Ethereum Price Forecast by Economist Peter Schiff<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Examining Bitcoin\u2019s performance against gold, Brandt discussed the BTC\/gold ratio, which stands at 26. He suggested it could potentially drop to 16 without jeopardizing Bitcoin\u2019s long-term bullish potential against gold.<\/p>\n<p>According to Brandt, the BTC\/gold chart exemplifies classical charting principles and requires flexibility in interpretation. While currently at 26, BTC might fall to 16 against gold without affecting its long-term bullish outlook. Ultimately, BTC could climb to over 150. He advocates for holding both gold and Bitcoin, viewing rigid adherence to either as unwise.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Veteran trader Peter Brandt has identified a significant bearish signal for a major altcoin against Bitcoin (BTC).<\/p>\n","protected":false},"author":3,"featured_media":50805,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[24],"tags":[],"class_list":["post-134841","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Top Trader Predicts Bearish Outlook for XRP Against Bitcoin<\/title>\n<meta name=\"description\" content=\"Veteran trader Peter Brandt has identified a significant bearish signal for a major 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