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Legendary trader Peter Brandt anticipates a sharp decline in XRP’s price to $1.07 despite a recent uptick.

On March 26, Brandt shared his analysis on X (formerly Twitter), in which he highlighted a bearish head and shoulders (H&S) pattern forming on XRP’s price chart.

The H&S pattern is a popular chart pattern in technical price analysis that is used to predict the reversal of a trend. It consists of three peaks: the left shoulder indicating a rise followed by a drop, the head indicating a higher rise followed by another drop, and the right shoulder indicating a rise similar to the left shoulder — but not as high as the head — followed by a decline.

On XRP’s price chart, the pattern’s left shoulder lies at $2.9 (early December 2024), its head lies at $3.39 (mid-January 2025), and its right shoulder lies at $3.01 (early March 2025), Brandt’s analysis shows. As the neckline forms at $1.9, anything below spells doom for XRP.

Brandt said that if the pattern gets confirmed, XRP’s price could slip to as low as $1.07. While a price point above $3 is not ideal for shorting, he would not want to own it below $1.9.

“I have no vested interest up or down… Don't shoot the messenger,” added Brandt.

Ripple has seen a reversal in its fortune after Donald Trump became the U.S. President in January. Its years-long legal battle is finally nearing a resolution , leading to a bullish momentum for XRP in the short run.

As per Kraken’s price feeds , the cryptocurrency was trading at $2.39 at press time.