- Peter Brandt’s analysis shows XRP’s bullish wedge pattern may signal significant growth by 2025 but faces short-term correction risks.
- Credible Crypto projects XRP could rise up to 1,295%, potentially reaching $20-$30 during a blow-off top based on Elliott Wave theory.
- XRP’s FDV hit $216.24B despite recent declines, reinforcing long-term investor confidence amidst market volatility and technical patterns.
Veteran trader Peter Brandt recently analyzed XRP’s price movements, sharing two key charts that may hint at its potential trajectory. One chart illustrates a bullish wedge pattern on a weekly timeframe, indicating a possible upward price movement.
If validated, this pattern suggests XRP could see significant growth into 2025. However, Brandt’s daily chart analysis suggests a potential correction from the local high of $2.72.
Brandt’s Observations Highlight Diverging Scenarios
Previously, Brandt noted that XRP’s current trend resembles a Half Mast Flag formation. He explained that if this pattern completes, the next move could match the advance leading to the flag.
However, while this formation often signals a substantial price move, it does not guarantee upward momentum. Brandt’s analysis underscores the possibility of volatility, which could see prices fluctuate in the short term before any sustained movement.
Bullish Outlook Amplified by Credible Crypto’s Analysis
Adding to this perspective, crypto analyst Credible Crypto emphasized XRP’s bullish market structure across various timeframes. In a recent analysis, he noted that XRP exhibits impulsive price action, reflecting consistent upward trends. Applying Elliott Wave theory, Credible Crypto projected that XRP could potentially rise by up to 1,295% from its current level.
Furthermore, the analyst believes XRP may soon enter an upward impulse, with potential targets of $4 in the near term and $5 or more thereafter. He further suggested that the final phase of this trend could result in XRP reaching double-digit prices, possibly climbing to $20 or even $30 during a blow-off top.
Recently, XRP’s performance saw a peak of $2.72 on December 3, followed by a decline due to holiday volatility. Although a brief rally accompanied Ripple’s RLUSD stablecoin launch, it was insufficient to achieve new highs. Despite this, XRP’s fully diluted valuation has reached $216.24 billion, reflecting confidence in its long-term potential.
