Veteran trader Peter Brandt recently shared two charts that may provide insight into XRP’s potential future movements. One chart, a weekly chart, shows a bullish wedge pattern that could indicate price growth leading into 2025. However, the daily chart suggests a correction from the local top level of $2.728000.
Brandt previously mentioned that the XRP/USD pair appears to be forming a Half Mast Flag. If this pattern completes, he suggested that the “distance to upside should equal advance into tip of flag.” This pattern often signals a significant price move following a drop, although it does not guarantee upward momentum.
In a recent YouTube video, Credible Crypto, a crypto analyst and trader, highlighted XRP’s bullish market structure based on the charts. He noted that XRP is displaying a clear bullish impulsive structure on various time frames, indicating potential price movement. Credible Crypto often utilizes the Elliott Wave theory in his analysis and believes XRP could see a surge of up to 1,295% from its current level.
According to Credible, XRP is primed for an upward impulse that could see it reach $4+ and potentially new all-time highs. He anticipates a larger third-wave move that could push XRP to $5+ and eventually to a blow-off top of $20 to $30 as the fifth wave progresses.
Credible Crypto also predicts that XRP could hit double digits by the time the fifth wave peaks. Despite a recent rally in December that saw XRP reach $2.72, the price has since declined due to increased volatility during the holiday season. While the launch of Ripple’s RLUSD stablecoin briefly boosted XRP, it was not enough to propel the cryptocurrency to new heights.
Currently, XRP is 36.3% below its all-time high from early 2018, but its fully diluted valuation (FDV) has surged to $216.24 billion, indicating strong long-term potential. The market remains optimistic about XRP’s future prospects, with analysts like Credible Crypto foreseeing significant growth in the coming months.