Here’s Why XRP Price Is Skyrocketing? Peter Brandt’s Bullish Prediction

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The price of XRP appears poised for another surge, having increased by over 10% within the past day. This significant rise has caught the attention of analysts who have identified several indicative patterns, such as the breakout from a symmetrical triangle pattern, which suggests a strong momentum and optimistic price projection for the near future. Here are some factors that underscore the potential for an upward trend in the coming days.

Currently, I’m observing that the value of XRP exceeds $2.50, buoyed by a substantial 75% increase in trading activity. The price fluctuations over the past 24 hours have ranged from $2.34 (low) to $2.60 (high).

XRP Price Technical Charts Breakout

Last week, Peter Brandt’s prediction about XRP, a veteran trader, caused quite a stir in the market. He suggested that if the XRP bull flag breakout occurs technically, it could lead to a substantial increase in its market cap by 2025, potentially reaching $500 billion. Interestingly, the breakout in the XRP price chart has already taken place.

On January 12th, he posted an update showing the XRP price chart, which indicated a significant breakout of the bull flag pattern in the daily timeframe. He referred to XRP as “the front-runner” to highlight that a bullish trend for this crypto asset is expected in 2025.

According to Peter Brandt’s analysis, it seems quite feasible that the price of XRP could effortlessly surpass $3 in the near future. He has set a short-term price prediction at $3.4. The XRP community is optimistic about several positive developments for Ripple and XRP this year, which they believe could drive the price upwards.

As a crypto investor, I’ve been closely watching XRP’s performance, and according to CoinGape’s analysis, it appears that my XRP assets are encountering a roadblock at around $2.60. To make a significant leap towards $3, it needs to surpass this resistance level and the previous high of $2.90.

Bollinger bands suggest a strong possibility of substantial growth in XRP’s price as it approaches the upper boundary. Furthermore, the Relative Strength Index (RSI) standing at 60 indicates a notable scope for the upward momentum, reinforcing the notion of a breakout.

High Whales and Traders’ Activity

As an analyst, I recently noticed that Ali Martinez disclosed a significant number of traders have been shorting XRP at the $2.60 price point. This heavy shorting activity could potentially form a sizable liquidation area that market participants might attempt to exploit.

In the last 24 hours, there was considerable whale activity involving XRP. Whale Alert reported a transfer of approximately 24,000,000 XRP, equivalent to over $60 million, from Upbit to a private wallet. Additionally, a significant amount of 300 million XRP was moved from Ripple to an unidentified wallet, which has generated quite a bit of discussion recently.

XRP ETF and Improving Regulatory Conditions for Ripple

Brad Garlinghouse, CEO of Ripple, shared significant advancements made by the company over the past six months within the U.S., such as receiving approval for launching the RLUSD stablecoin. He is optimistic that the incoming Trump administration will bring even more chances for business growth in the United States.

Experts, including Nate Geraci, president of the ETF Store, anticipate a good chance that an XRP ETF will be approved this year. Notably, financial heavyweights such as Bank of America are incorporating XRP into their internal transactions, which suggests widespread acceptance for this cryptocurrency.

Experts such as former SEC member Marc Fagel and attorney Jeremy Hogan posit that the incoming chair of the U.S. Securities and Exchange Commission, Paul Atkins, might choose not to continue the appeal in the Ripple vs SEC case. The conclusion of this legal battle seems imminent, given Ripple executives attending a dinner with President-elect Donald Trump, hinting at potential influence or support.

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2025-01-12 21:04