Legendary Trader's Bullish Pivot? Peter Brandt Calls XRP's Chart As The 'Most Powerful' After A Slew Of Bearish Takes

Legendary trader Peter Brandt, known to be a long-term XRP (CRYPTO: XRP) critic, deemed the cryptocurrency's price chart the "most powerful" on Sunday. 

What happened: Brandt, a seasoned chartist with nearly 50 years of experience, used X to highlight XRP’s breakout from a symmetrical triangle pattern.

"This the most powerful chart in all of crypto world," he wrote, piquing the interest of his followers.

For the curious, a symmetrical triangle is a chart pattern characterized by two converging trend lines. They reflect a pause in the current trend while bulls and bears find equilibrium. However, when the price breaks firmly from the triangle, it signifies the start of a new trend.

In the given case, Brandt spotted XRP's upward breakout after a 7-year break, compelling him to issue a bullish forecast.

See Also: Ark Invest’s Cathie Wood Hails Bitcoin’s $100K Climb As A ‘Big Deal,’ Labels Apex Crypto As Gold Substitute And Emerging Reserve Currency

An X user, who goes by the pseudonym protechtor, said, "Even Peter is coming around."

Another user, PharaohX33, also poked fun at Brandt's pivot to a positive outlook, saying, "Grandpa has finally opened his eyes."