Veteran Trader Peter Brandt Spots Reason to Short XRP

Veteran trader Peter Brandt has placed XRP on his watchlist as a potential short ￰1￱ assessment is not definitive yet, but rather dependent on a specific technical condition being ￰2￱ stated , “This is on my list of short candidates XRP but it is conditional upon completing the descending triangle.” The accompanying chart outlines the structure he is monitoring, showing XRP moving within a tightening range that has developed since July, when the asset hit an all-time ￰3￱ setup Brandt referred to centers on a descending triangle pattern , a formation recognized in technical analysis as a potential continuation pattern that often precedes a downward ￰4￱ pattern forms when lower highs repeatedly test a horizontal support ￰5￱ XRP’s case, the chart shows resistance descending from near $3.2 while horizontal support holds around $2.68.

The price has compressed between these levels, creating a narrowing zone of trading ￰6￱ —> Certified as Sharia-Compliant by the Central Bank of Bahrain. Documented. ￰0￱ ￰7￱ — SMQKE (@SMQKEDQG) October 9, 2025 Descending Triangle Nearing Completion Brandt’s chart, sourced from TradeNavigator, shows daily bars of XRP against ￰8￱ upper boundary of the triangle connects several lower highs from August through early October, while the base level has been tested multiple times near $2.68743. The chart shows an 8-day and an 18-day moving average with both trending slightly downward and reflecting weakening momentum. A completed descending triangle would require a clear breakdown below the support ￰9￱ the market closes below that threshold decisively, it would validate Brandt’s condition for a potential short ￰10￱ chart’s Average Directional Index (ADX) reading near 12.61 suggests low trend strength, indicating that the market is consolidating rather than ￰11￱ Average True Range (ATR) also remains subdued, signaling reduced volatility during the consolidation ￰12￱ are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Support and Breakdown Levels The current price of $2.8 sits only marginally above the key support ￰13￱ base at $2.68743 represents the critical level traders are likely to watch for ￰14￱ this level give way, the next historical support appears around $2.22, a point noted on the chart as a prior consolidation ￰15￱ below, a long-term reference at $1.879 may represent a deeper target if bearish pressure ￰16￱ a decisive move occurs, XRP remains confined within its converging ￰17￱ declining highs reinforce seller control, but buyers have managed to hold the lower boundary repeatedly, maintaining short-term equilibrium.

Brandt’s comment suggests that he is not preemptively shorting but waiting for the market to confirm the setup with a definitive ￰18￱ : This content is meant to inform and should not be considered financial ￰19￱ views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s ￰20￱ are advised to conduct thorough research before making any investment ￰21￱ action taken by the reader is strictly at their own ￰22￱ Tabloid is not responsible for any financial ￰23￱ us on X , Facebook , Telegram , and Google News