Experienced market watcher Peter Brandt has reiterated his negative outlook for XRP. He’s now considering shorting the cryptocurrency, indicating a possible price target as low as $2.2.
Peter Brandt Eyes XRP for Potential Short Position
The seasoned investor mentioned that XRP is on his radar for a potential short trade. This suggests he anticipates a price decrease. He clarified that initiating a short position depends on the completion of a descending triangle pattern on the charts.
This is on my list of short candidates $XRP but it is conditional upon completing the descending triangle pic.twitter.com/uai84VHLxa
— Peter Brandt (@PeterLBrandt) October 9, 2025
Brandt’s accompanying chart visualizes a potential XRP price decline to around $2.22. Earlier in the week, market analysis suggested the formation of a descending triangle for the altcoin, potentially leading to a price drop if the price breached $2.6.
This pessimistic view comes as XRP struggles to maintain its position above a crucial price point. A recent rally pushed XRP to $2.92 in an attempt to regain the $3 mark, but it’s now facing a pullback due to a broader downturn in the cryptocurrency market.
Adding to the uncertainty, large XRP holders have reportedly sold off substantial amounts of the cryptocurrency recently, with reports of whales selling off 440 million coins. This decrease in demand occurs even amidst rising speculation about a potential XRP ETF, which many expect to attract new investment into the XRP ecosystem.
Sentiment analysis also reveals a surge in negative opinions surrounding XRP, reaching levels not seen since the Trump tariffs. Interestingly, on-chain analytics platform Santiment views this negatively, suggesting that prices often move contrary to retail investor expectations.
Technical Indicators Suggest Possible XRP Price Movement
Crypto analyst CasiTrades offers a contrasting perspective, suggesting that XRP is poised for a breakout due to favorable technical indicators. She highlights that recent price lows have consistently held above the 0.5 Fibonacci retracement level at $2.79. This level remains a robust support, with repeated attempts to break below it proving unsuccessful.
Analyzing using Elliot Wave principles, CasiTrades acknowledges the possibility of a short-term price dip before a significant upward surge. She contends that current market patterns may be designed to confuse and exhaust traders.
CasiTrades believes the market’s inability to break key support levels is a positive indicator for XRP. She also notes that markets often don’t peak during consolidation periods, suggesting a potential move towards new all-time highs.
CasiTrades reminds investors that XRP previously consolidated for seven years before surging from $0.50 to $3.66. She adds that current price movements are becoming more contained, limiting short-term gains to $4.50 and $6.50. However, she maintains that longer-term price targets remain between $8 and $13 if the upward momentum continues.