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Here’s Why XRP Price Is Skyrocketing? Peter Brandt’s Bullish Prediction
XRP price starts its next rally wave, skyrocketing more than 10% in the last 24 hours. Analysts noted multiple patterns including symmetrical triangle pattern’s breakout to predict a massive momentum and a bullish price target. Here are the reasons supporting the imminent upside move in the coming days.
At present, XRP price is trading above $2.50 supported by a 75% rise in trading volume. The 24-hour low and high are $2.34 and $2.60, respectively.
XRP Price Technical Charts Breakout
Veteran trader Peter Brandt’s $500 billion market cap prediction for XRP sparked significant market buzz last week. He highlighted that XRP bull flag breakout will technically confirm a significant increase in market cap in 2025. The breakout in XRP price chart has happened.
In an X post on January 12, he shared the XRP price chart depicting a clear bull flag pattern breakout in the daily timeframe. “Leader of the pack XRP,” he commented to point out a bullish momentum crypto asset will likely witness in 2025.
Peter Brandt’s XRP price prediction signals an easy move above $3 this time. He gave a short-term price target of $3.4 as the community anticipates several good news for Ripple and XRP this year.
CoinGape’s analysis for XRP price reveals the asset is facing resistance at $2.60. It needs to break above the resistance level and previous $2.90 high for a strong move above $3.
Bollinger bands indicate potential for a massive upside with XRP price moving near upper band. Moreover, RSI at 60 signals significant room for uptrend, supporting the breakout.
High Whales and Traders’ Activity
Popular crypto analyst Ali Martinez revealed a lot of traders shorting XRP at $2.60. This has created a substantial liquidation zone that market makers may try to grab.
Notable whale activity was recorded in the lat 24 hours. Whale Alert reported 24,000,00 XRP worth over $60 million transferred from Upbit to a wallet. Recently, a 300 million XRP moved from Ripple to an unknown wallet has also made significant buzz.
XRP ETF and Improving Regulatory Conditions for Ripple
Ripple CEO Brad Garlinghouse disclosed major developments in the US by the company in last six months, including approval for RLUSD stablecoin launch. He believes the incoming Trump administration to further elevate business development opportunities for the company in the United States.
Meanwhile, experts such as ETF Store president Nate Geraci have predicted high odds for XRP ETF approval this year. Financial giants like Bank of America’s integration of XRP for internal transactions signals mainstream adoption for the crypto asset.
Lawyers including ex-SEC Marc Fagel and Jeremy Hogan believe incoming US SEC Chair Paul Atkins may decide not to pursue appeal in XRP lawsuit. The Ripple vs SEC case end is near amid executives attending dinner with President-elect Donald Trump.
Varinder Singh
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space.
At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as “Best Crypto Media Company 2024” for high impact and quality reporting.
Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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