According to the trading legend, Peter Brandt XRP did manage to form an incredibly rare pattern; hence the possibilities of a bullish trend sticking with XRP are much eligible at the present moment. In his latest tweet, the trading legend has also mentioned that it is entirely possible that XRP might even catch up to speed with that of Bitcoin in terms of the bullish trends that set and then sticks with the cryptocurrency. Peter Brandt has also hinted that it doesn’t only means prosperity and peace for Bitcoin or XRP, but for other cryptocurrencies as well; that is why this rare pattern that has come to light might just be the hint to buy more cryptocurrency.
This formation that XRP has shown is known as compound fulcrum formation, which is rare and is only bound to happen after so many years. This means that the digital asset is ready for reversal in its trend after bottoming out, as Brandt has put this whole scenario into words. The compound fulcrum happens to be a bottom pattern always and never of the top, which can only mean that the cryptocurrency prices and their trends are going to move upwards, which will provide a decent boost to the market in general.
XRP Finally Picking up the Pace as the SEC Lawsuit Might Come to an End
Another possibility that has arisen despite such a rare pattern is the SEC lawsuit against XRP. It reportedly mentions that XRP is not a digital asset but security. Not only this, but SEC also pressed on the point that it has not registered itself just yet, which is why the current lawsuit would carry on, but a certain element has come to light. According to this SEC, XRP is a digital asset back in the early days in a media report and has now changed its status to digital security that has not registered itself. According to this new evidence, it is possible that the SEC lawsuit might finally come to an end, thus hinting more boost in XRP’s value and price performance.