Introduction
XRP, one of the most prominent cryptocurrencies, has recently garnered significant attention in the trading community due to its potential for a substantial price rally. Veteran trader Peter Brandt and other analysts have shared technical insights suggesting that XRP could be on the verge of a massive breakout. In this article, we delve into their analysis and what it could mean for XRP’s future.

Peter Brandt’s Bullish Wedge Pattern
Peter Brandt, a seasoned trader renowned for his accurate predictions, recently shared two charts on X (formerly Twitter) that highlight XRP’s potential price trajectory. His analysis features a weekly chart indicating a bullish wedge pattern, a technical formation often associated with upward price movements.

If this pattern is validated, it could signal sustained price growth for XRP into 2025. However, Brandt’s daily chart analysis offers a cautionary note, suggesting a possible correction from a local top of $2.728000 before the upward trend resumes.

In an earlier post, Brandt referenced the Half Mast Flag pattern forming in the XRP/USD pair. This pattern typically suggests that the “distance to upside should equal the advance into the tip of the flag,” potentially heralding a significant upward move. However, Brandt also cautioned that such formations do not guarantee upward momentum, emphasizing the importance of further market validation.

Credible Crypto’s Bullish Insights
Another respected analyst, Credible Crypto, has echoed bullish sentiments for XRP. In a recent YouTube video, he described XRP as having one of the most promising market structures among cryptocurrencies.

“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,” Credible Crypto noted.

Applying the Elliott Wave theory, a widely used technical analysis tool, the analyst predicted that XRP could experience a 1,295% surge from its current levels. According to this theory, bullish assets undergo a five-wave rally followed by a three-wave corrective phase.

Credible suggests that XRP is currently preparing for a significant upward impulse that could push the price to $4 or higher, with new all-time highs potentially surpassing $5. As the final fifth wave progresses, the analyst anticipates a blow-off top ranging from $20 to $30.

Could XRP Hit Double Digits?
XRP’s recent price movements have been both promising and volatile. In December, XRP reached a peak of $2.72 on December 3 but has since faced a steady decline, attributed to heightened holiday season volatility. Although Ripple’s launch of the RLUSD stablecoin provided a temporary boost, it wasn’t sufficient to push XRP to new highs.

Currently, XRP is trading 36.3% below its all-time high from early 2018, but it remains a strong contender for future growth. The fully diluted valuation (FDV) of XRP has climbed to $216.24 billion, signaling robust long-term potential. These metrics, coupled with technical patterns and market sentiment, suggest that XRP’s double-digit price target could be achievable in the coming years.

Key Facts

  • Bullish Wedge Pattern: Peter Brandt highlights a potential weekly bullish wedge pattern for XRP, indicating price growth into 2025.

  • Half Mast Flag Pattern: Suggests the upside could match the previous advance into the flag’s tip.

  • Elliott Wave Theory: Credible Crypto predicts a 1,295% surge for XRP, potentially reaching $20 to $30.

  • Current Valuation: XRP’s fully diluted valuation stands at $216.24 billion, reinforcing confidence in its long-term potential.

Conclusion
The technical analysis presented by experts like Peter Brandt and Credible Crypto paints an optimistic picture for XRP. While patterns like the bullish wedge and Elliott Wave theory suggest significant upward potential, traders should remain cautious and consider market volatility. As always, any investment decision should be made with careful research and due diligence.

Note: This is not financial advice. Before making any investment, conduct your own research and assess the market thoroughly.



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