Veteran trader Peter Brandt, in a recent X post has shared two charts that may hint at XRPās next potential moves. Notably, Brandt shared a weekly chart that shows a bullish wedge pattern. If validated, the pattern will show price growth into 2025. However, the daily chart suggests a correction from the local top level of $2.728000.Ā
Previously, Peter Brandt hadĀ sharedĀ that the XRP/USD pair currently seems to be forming a Half Mast Flag. If this pattern completes, Brandt had suggested that the ādistance to upside should equal advance into tip of flag.ā
He noted that that the potential upside could match the previous advance into the tip of the flag, as is typical for this formation. While it often signals a significant price move after a drop, it does not always ensure upward momentum.
Recently, Credible Crypto, a crypto analyst and trader in a latest XRP is one of the few coins right now that is printing a very clear bullish impulsive structure on lower time frames, on higher time frames, on every time frame. And very easily cleanly identifiable,ā he noted.
āThatās kind of what weāre seeing here on XRP ā is that very clean price action that shows impulsive price movement,ā he added further.Ā
The analyst regularly applies the Elliott Wave theory in his technical analysis, and has noted that XRP could explode by up to 1,295% from the current level. Notably, in technical analysis, the Elliott Wave theory suggests that a bullish asset witnesses a five-wave rally before a correction occurs in a three-wave pattern.
Credible believes that XRP is preparing for an upward impulse, potentially reaching $4+ and new all-time highs. He suggests this could be part of a larger third-wave move that may ultimately push XRP to $5+. As the final fifth wave progresses, Credible anticipates XRP could reach a blow-off top of $20 to $30.
XRP To Hit Double Digits?
āBy the time weāre gearing up for this final fifth wave, I would imagine that we would have hit double digits at that point. And this fifth wave will take us to the blow-off top or the final top of $20 to $30,ā he noted.Ā
Notably, XRP witnessed a notable rally in December as it reached a peak of $2.72 on December 3. However, the XRP price has declined steadily due to increased volatility this holiday season. While a brief rally followed the launch of Rippleās RLUSD stablecoin but it was not enough to take XRP to newer heights.Ā
XRP is currently 36.3% below its all-time high from early 2018, failing to set a new record in December despite earlier momentum. Nevertheless, the fully diluted valuation (FDV) has climbed to $216.24 billion, reinforcing confidence in XRPās long-term potential.Ā