Legendary trader Peter Brandt, known to be a long-term XRP XRP/USD critic, deemed the cryptocurrency’s price chart the “most powerful” on Sunday.
What happened: Brandt, a seasoned chartist with nearly 50 years of experience, used X to highlight XRP’s breakout from a symmetrical triangle pattern.
“This the most powerful chart in all of crypto world,” he wrote, piquing the interest of his followers.
For the curious, a symmetrical triangle is a chart pattern characterized by two converging trend lines. They reflect a pause in the current trend while bulls and bears find equilibrium. However, when the price breaks firmly from the triangle, it signifies the start of a new trend.
In the given case, Brandt spotted XRP’s upward breakout after a 7-year break, compelling him to issue a bullish forecast.
An X user, who goes by the pseudonym protechtor, said, “Even Peter is coming around.”
Another user, PharaohX33, also poked fun at Brandt’s pivot to a positive outlook, saying, “Grandpa has finally opened his eyes.”
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