Two prominent crypto analysts, Peter Brandt and Credible Crypto, have shared insights on XRP’s price trajectory, highlighting bullish patterns and potential double-digit price targets. Here’s what their analysis reveals about the future of the popular cryptocurrency.
Key Insights:
- Peter Brandt Identifies Bullish and Corrective Patterns
- Credible Crypto’s Bullish Elliott Wave Predictions
- XRP’s Recent Rally and Long-Term Potential
Peter Brandt: Bullish Wedge & Potential Correction
Veteran trader Peter Brandt recently shared charts that could hint at XRP’s next moves:
- Weekly Chart: Brandt pointed to a bullish wedge pattern, suggesting possible price growth extending into 2025 if validated.
- Daily Chart: A correction appears likely, as XRP has retreated from its local high of $2.728.
- Half Mast Flag: Brandt previously noted a potential Half Mast Flag formation in the XRP/USD pair. If this plays out, the upside target could match the previous advance into the tip of the flag, though this does not guarantee upward momentum.
Credible Crypto: XRP Could Skyrocket to $20–$30
Credible Crypto, a popular trader and analyst, recently described XRP as having one of the most bullish structures in the crypto market:
- Clear Impulsive Structure: The analyst highlighted XRP’s clean and impulsive price action across all time frames.
- Elliott Wave Analysis: Using the Elliott Wave theory, Credible predicts XRP is in the early stages of a larger third wave, which could push its price to $5+.
- Potential Highs: He forecasts XRP could reach double digits before achieving a final “blow-off top” of $20 to $30 during the fifth wave.
XRP’s Recent Rally and Challenges
- December Rally: XRP peaked at $2.72 on December 3 but has since experienced a steady decline amid heightened holiday season volatility.
- Stablecoin Launch: Ripple’s RLUSD stablecoin provided a brief rally but failed to sustain new highs.
- Long-Term Potential: Despite being 36.3% below its all-time high from early 2018, XRP’s fully diluted valuation (FDV) has climbed to $216.24 billion, signaling confidence in its future.
Looking Ahead
With bullish patterns and promising forecasts from seasoned analysts, XRP’s future appears poised for significant growth. As traders eye a potential surge to double digits, the cryptocurrency’s long-term potential continues to capture attention in the market.
