XRP's price performance has been a key topic of discussion on the crypto market for many weeks. The price of the popular cryptocurrency has already surpassed $2.50 with the start of the new month; its gain since November is 368%, and its market capitalization has reached a staggering $137 billion. Few would believe it a month ago, but right now XRP is once again a top three digital asset by this metric, behind only Bitcoin (BTC) and Ethereum (ETH), and ahead of Solana (SOL) and the most popular stablecoin, USDT by Tether.
Many participants in the crypto market were completely surprised by such a result, and even more were forced to reconsider their views; now, the media space is full of various predictions of where the price of XRP may end up, given that the all-time high set in 2018 is less than $1, and the market capitalization is already at historic highs.
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XRP to $24
Peter Brandt, who is considered a trading legend and has been active on the financial markets for almost 50 years, was not left out. Earlier, Brandt expressed skepticism about XRP, but his new price outlook for the popular cryptocurrency looks incredibly positive.
pic.twitter.com/1kuFxoWxM0
Advertisement — Peter Brandt (@PeterLBrandt) December 1, 2024
Thus, the expert trader has published a price chart of XRP, on which he depicted his vision, in particular noting how the price of the token broke through the dynamic resistance at the level of around $0.92 and then rushed upward. Looking at Brandt's chart, we can assume that the trader expects that this breakout could result in the price of XRP rising as high as $24 per token.
This seems unrealistic considering that XRP would then have a market capitalization of nearly $1.37 trillion. This would make XRP the eighth largest company in the world, pushing Tesla out of the global rankings. Is this possible?
