XRP Forming Potentially Constructive Long-Term Pattern: Savvy Trader Peter Brandt

XRP Forming Potentially Constructive Long-Term Pattern: Savvy Trader Peter Brandt

Legendary trader has posted a “potentially constructive long-term chart” for XRP

Veteran commodity trader Peter L. Brandt has taken to Twitter to congratulate those who has invested in altcoins at an early stage and made large profits by now, thus admitting that he is “a dinosaur in a new game”.

Below that tweet, as if to underpin his statement about altcoins, he shared a screenshot of an XRP chart that shows a “potentially constructive” pattern for this coin.

XRP forms an Inverse Head and Shoulders

The seasoned trader has posted a chart which shows that the sixth largest cryptocurrency XRP is forming an Inverse Head and Shoulders pattern. Potentially, Head and Shoulders (regular or an inverse one) is followed by an asset reverse when it starts moving in an opposite direction.

In this particular case, Brandt says that potentially in the long-term XRP is going to head North.

Brandt sends apologizes to early altcoin investors

In the root tweet, the trader has apologized to all early altcoin investors has ever shown disrespect to. He has sent congratulations to them on a “job really well done” and calling them the best representatives of a new generation of market speculators.

The screenshot of the aforementioned XRP chart came as a response to a suggestion that Peter should jump on the XRP train.

Peter Brandt’s mixed feelings about XRP

Previously, Brandt multiple times demonstrated disdain for the Ripple-affiliated currency and urged the SEC to claim it a security long before the regulatory agency initiated their law suit against Ripple over the same issue in late December 2020.

This year, however, the veteran commodity trader has several times posted bullish tweets on XRP

Original Source :u.today

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