Peter Brandt Identifies XRP as Short Candidate Amid Market Downturn

Veteran trader Peter Brandt has flagged XRP as a potential short position opportunity, citing technical resistance and recent whale sell-offs. He believes a bearish scenario could see XRP plummet to $2.22 if the ongoing descending triangle pattern completes. This view is based on his analysis of technical charts, which indicate a possible downward trend for the token. 440 million XRP has been sold by whales in the last month, adding to the downward pressure, despite optimism surrounding potential XRP exchange-traded fund (ETF) listings that could attract institutional investors.