Trading Legend Peter Brandt Predicts More Pain for Ripple's XRP, Bitcoin Cash, and Litecoin

Libra Coin News
Wed, 08/21/2019 - 17:01
Alex Dovbnya
Peter Brandt suggests that the altcoin carnage will continue with an even more brutal twist
Cover image via

Commodity trading veteran Peter Brandt has just rubbed salt into the wounds of some altcoins bagholders who have already experienced a lot of pain this week.

His technical analysis shows that top cryptocurrencies are on the verge of capitulation.

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No moon trips for you

According to Brandt, Bitcoin Cash (BCH), Litecoin (LTC), and Ripple’s XRP are positioned for further price decline despite trimming most of their gains in 2019.

As reported earlier by U.Today, Brandt predicted that XRP could collapse $0.02, thus becoming almost worthless. He also accused Ripple of pullings the strings in order to sustain the price stability of its native token.

Still, while this TA looks undoubtedly ugly, some Twitter users rightfully pointed out that positive news sentiment could drastically change the course of things.

At press time, every single altcoin within the top 50 (save for Bytecoin) is painted red after Bitcoin failed to breach $11,000 and started to wave the white flag.

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Pullbacks are ok-ish

Brandt, who accurately predicted that Bitcoin was on the verge of parabolic advance back in April, didn’t share his take on the number one currency this time around.

However, he earlier said that significant pullbacks in the 30-50 percent range are normal within a bull trend.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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