Crypto Market Insights
Veteran trader Peter Brandt has labeled Ripple's XRP token a top short candidate, sparking debates on which crypto to buy now amid shifting crypto prices.
Brandt spots a descending triangle on the daily chart, where XRP hovers near $2.79 after a 3% drop in the last day. Whales dumped 440 million tokens last month, fueling bearish signals as support at $2.68 teeters.
Consequently, traders eye a potential slide to $2.20 if that level breaks, contrasting with XRP’s modest 34% gain this year after 2023’s surge.
Peter Brandt names Ripple (XRP) token a “Top Short Candidate”
Thus, savvy investors pivot toward stabler options in the volatile crypto market.
Author's summary: Peter Brandt spots XRP as a top short candidate.
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