A recent post by veteran trader Peter Brandt compared XRP’s price action to a historic chart from the book Technical Analysis of Stock Trends by Edwards and Magee. In his chart, Brandt placed XRP’s current daily price movement alongside the 1946 Revere Copper & Brass chart, a classic example often cited for illustrating descending triangle formations. His post quickly became a reference point for traders analyzing XRP’s next possible move. The comparison highlights that XRP has been consolidating in a descending triangle since July, after hitting its all-time high . Resistance has formed at progressively lower highs, and support has built near the $2.69 area. While Brandt noted the structural similarity, his comment also came with caution, noting that closing below $2.68743 would send the asset down to $2.22163. On the left is a classic descending triangle from Edwards and Magee, showing what descending triangles are supposed to do. On the right is a developing descending triangle. ONLY IF it closes below 2.68743 (then I'll be a hater), then it should drop to 2.22163. $XRP pic.twitter.com/3GI7nT1TaW — Peter Brandt (@PeterLBrandt) October 7, 2025 Key Technical Level to Watch Descending triangles typically indicate that sellers are gradually gaining control, but they can resolve in either direction until a confirmed breakout occurs. In this case, Brandt’s chart reveals the lower boundary of the formation at about $2.69, which he considers a critical support line. A sustained close beneath this support would be a technical breakdown and could trigger the projected move toward $2.22. Despite identifying downside risk , the setup does not guarantee a decline. A decisive rebound above the descending trendline that caps the recent lower highs would suggest renewed strength, with the potential for XRP to resume its previous uptrend. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Why the Comparison Matters Edwards and Magee’s original Revere Copper & Brass chart is considered a classic teaching example in technical analysis circles. By referencing it, Brandt signaled that XRP’s chart structure shares recognizable traits with patterns that analysts have studied for decades. The comparison is constructive because it places the cryptocurrency within the framework of time-tested chart analysis. The historical parallel has encouraged market participants to view the setup as one that could lead to a significant directional move. XRP has been trading near $3, hovering just below the descending trendline resistance that has constrained its price for weeks. The coin’s performance during upcoming sessions will likely determine whether the descending triangle resolves in favor of the bulls or bears. Historical examples provide context and help traders anticipate potential reactions at key price levels. While the chart suggests vigilance, it also shows that XRP remains in a technical formation that could break upward if buyers regain momentum. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Peter Brandt Analyzes Current XRP Price Trend. Here’s What to Expect appeared first on Times Tabloid .
