TLDR
- Peter Brandt has identified XRP as a top short candidate, citing a bearish chart pattern.
- A descending triangle pattern is forming with strong support around the $2.68 level.
- Brandt suggests that XRP could fall to $2.20 if the support level breaks.
- XRP has dropped over 3 percent and is now trading at $2.79.
- The token has lost its top-three market cap position and now ranks fifth.
Veteran trader Peter Brandt has spotlighted XRP as a prime shorting candidate, pending a technical confirmation. His recent chart analysis shows a descending triangle pattern forming on XRP’s daily timeframe. If this pattern breaks down, XRP could experience a significant price drop.
XRP Faces Critical Support and Resistance Convergence
XRP now trades near a key support level at $2.68, according to Brandt’s analysis. The chart reveals a clear descending resistance line, reflecting reduced buying strength. As both lines converge, traders expect a decisive move in price action.
Brandt warns that a confirmed breakdown could drag XRP toward $2.20, a level last seen in early July. This would mark a steep fall and trigger broader bearish sentiment. The descending triangle suggests increasing selling pressure despite temporary rebounds.
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
Meanwhile, XRP trades at $2.79 after a 3% dip in the past day. Brandt maintains that the short setup becomes valid only if XRP closes below its support level. Until then, the pattern remains speculative but widely observed.
XRP Slips in Market Rankings Amid Weak Price Momentum
XRP recently lost its top-three market position, falling behind BNB in overall valuation. CoinGecko reports that XRP now holds the fifth spot with a $167 billion market cap. The token’s inability to maintain momentum has weighed on its ranking.
Despite a 34% gain in 2024, XRP’s performance lags behind last year’s 238% rally. It has failed to produce sustained higher highs since peaking at $3.66 in July. This has made it increasingly vulnerable to bearish outlooks like Brandt’s.
The market’s focus now shifts to whether XRP can hold support or confirm the bearish pattern. Traders await volume spikes to signal a clear direction. Meanwhile, XRP remains under pressure from both technical and market structure weaknesses.
XRP’s price has stagnated despite strong growth earlier in the year. Recent price action has shown a series of lower highs, frustrating bullish traders. This trend adds weight to the bearish case proposed by Brandt.
Even as short-term gains persist, longer-term sentiment remains cautious. Traders observe lower buying volumes and fewer breakout attempts. As a result, XRP appears to be increasingly constrained within its triangular structure.
