As an analyst with over four decades of trading experience under my belt, I find myself intrigued by the latest insights shared by Peter Brandt regarding the XRP/USD pair. His identification of a potential Half Mast Flag pattern is certainly worth considering, given his exceptional track record and keen eye for market trends.
Experienced trader Peter L. Brandt, active since 1975, recently posted on Twitter about identifying a potentially bullish “Half Mast Flag” pattern in the XRP/USD chart.
Brandt reveals bullish XRP pattern
Peter Brandt tweeted that the XRP/USD pair seems currently to be forming a Half Mast Flag. If this is true and this pattern completes, he says, then “distance to upside should equal advance into tip of flag” as in regularly happens when this pattern plays out. “Half Mast Flag” implies that an asset’s price first drops significantly before going up, but not necessarily so.
It seems like the price of XRP against USD is potentially resolving a ‘half staff flag’ pattern. If this pattern holds true, the potential increase in price could match the height from the flagpole to the flag’s tip.
— Peter Brandt (@PeterLBrandt) December 17, 2024
Several analysts concurred with Brandt, suggesting that if XRP follows through with this particular pattern, it could be on the brink of a significant surge. They speculated that the value might even exceed $3 per XRP.
Currently, crypto analyst Ali Martinez has shared on Twitter that XRP is currently in a “Bull Flag” formation. He anticipates that once XRP surpasses the $2.60 resistance point, it could potentially rise to the $4 mark.
69 million XRP deposit goes to Binance
Previously reported by U.Today, a significant amount of 69.3 million XRP, equivalent to approximately $175.8 million, was deposited into one of Binance’s wallets from an unidentified blockchain address.
According to the analysis conducted by Bithomp’s platform regarding XRP, it appears that an anonymous wallet is connected to Binance.
Prior to that transaction, Whale Alert had previously noted two large transfers of 800 million and 120 million XRP from Binance. These substantial amounts of XRP equaled approximately $1.92 billion in traditional currency. However, these withdrawals were also directed towards wallets linked to Binance, as reported by the same source specializing in XRP.
Cardano founder praises RLUSD
In a recent update on platform X, the founder of Cardano, Charles Hoskinson, expressed his appreciation for RLUSD by saying “RLUSD is fantastic.” When asked by an excited Cardano supporter if there are plans to integrate RLUSD with Cardano, Hoskinson replied affirmatively, stating “We’re currently working on it.
On December 17th marks the long-awaited debut of Ripple‘s USD-backed stablecoin, the RLUSD, as previously announced by the company this week. Following approval from the New York State Department of Financial Services advisory board, the Ripple Treasury has now minted approximately $66 million worth of RLUSD in anticipation.
Read More
- ZIG PREDICTION. ZIG cryptocurrency
- RSR PREDICTION. RSR cryptocurrency
- USD MXN PREDICTION
- SEI PREDICTION. SEI cryptocurrency
- EUR CAD PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- NTRN PREDICTION. NTRN cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- DF PREDICTION. DF cryptocurrency
- MNT PREDICTION. MNT cryptocurrency
2024-12-17 17:27