Experienced analyst Peter Brandt, who has been in the market for a long time and has a large following due to his successful analysis, has made a bold prediction about Ripple (XRP).
Sharing from his X account, Brandt asserted that XRP's market value could exceed $500 billion.
Peter Brandt claims that there is a halving flag pattern on XRP’s weekly chart and if this pattern completes within six weeks, XRP will likely breakout.
Brandt said XRP is at a turning point as the price has been consolidating in a flag pattern since its sharp rise last December.
At this point, the analyst said that the current flag pattern on the XRP chart will soon accelerate and if XRP does not accelerate and the flag pattern does not complete, the flag pattern is at risk of turning into another formation and a bearish situation may occur.
However, if the flag pattern is successfully completed, XRP's market capitalization could potentially reach $500 billion.
“The flag must be flown at half-mast within six weeks, otherwise it will be highly suspicious.
“This flag on the XRP chart needs to be completed soon, otherwise it will likely turn into something else. But if it is completed, a $500 billion market cap for XRP could become a reality.”
According to CoinMarketCap data, XRP, which trades at $2.4 at the time of writing and has a market cap of $140.3 billion, ranks third in the rankings, behind only Bitcoin and Ethereum.
