Veteran trader Peter Brandt, in a recent article on X, shared two charts that could hint at XRP’s potential next moves. Notably, Brandt shared a weekly chart that shows a wedge bullish trend. If validated, the model will show price growth until 2025. However, the daily chart suggests a correction from the local upper level of $2,728,000.
Previously, Peter Brandt stated that the XRP/USD pair currently appears to be forming a half-mast flag. If this model holds true, Brandt had suggested that “the distance up the rise should be equal to the advance up to the point of the flag.”
He noted that the potential advantage could correspond to the previous advance towards the flag point, as is typical for this formation. While this often signals significant price action after a decline, it does not always guarantee bullish momentum.
Credible Crypto’s Bullish Outlook
Recently, crypto analyst and trader Credible Crypto shared in a latest Youtube video that XRP has one of the most bullish market structures in crypto based on charts.
XRP is currently one of the few coins that prints a very clear bullish impulse pattern on lower time frames, on higher time frames, on every time frame. And very easily identifiable,” he noted.
“That’s kind of what we’re seeing here on XRP – it’s very clear price action that shows impulsive price movement,” he added.
The analyst regularly applies Elliott Wave theory in his technical analysis and noted that XRP could explode up to 1.295% from the current level. Notably, in technical analysis, the Elliott Wave theory suggests that a bullish asset experiences a five-wave rally before a correction occurs in a three-wave pattern.
Credible believes that XRP is preparing for an upward impulse, potentially reaching over $4 and new all-time highs. He suggests that this could be part of a broader third-wave move that could ultimately push XRP to $5 and above. As the final fifth wave progresses, Credible predicts that XRP could reach a high of $20-$30.
Will XRP hit double digits?
“As we prepare for that final fifth wave, I imagine we would have hit double digits by then. And this fifth wave will take us to the peak of the explosion or the final peak of $20 to $30,” he noted.
XRP notably saw a notable rebound in December, reaching a high of $2.72 on December 3. However, the price of XRP has declined steadily due to increased volatility this holiday season. Although a brief rally followed the launch of Ripple’s RLUSD stablecoin, it was not enough to propel XRP to new highs.
XRP is currently 36.3% below its all-time high from early 2018, having failed to set a new record high in December despite previous momentum. Nonetheless, the fully diluted valuation (FDV) soared to $216.24 billion, boosting confidence in XRP’s long-term potential.
