Longtime XRP critic Peter Brandt thinks that if XRP can break through the 2021 peak, the current setup for the cryptocurrency indicates extraordinary bullishness.
Source: NewsBTC
- Peter Brandt boldly predicted that the price of XRP might rise sharply if it breaks through its 2021 peak.
- In the upcoming days, XRP may first reach $1.45 and then $1.95.
- According to seasoned trader Peter Brandt, the price of XRP is poised for a sharp increase.
- He emphasized a coil pattern that gives the cryptocurrency a bullish outlook.
For the first time in almost three years, XRP recently crossed the $1 threshold, marking a significant milestone. Technical expert and seasoned trader Peter Brandt made a daring prediction for Ripple’s native token, XRP, on November 18, 2024. With a recent price spike, Brandt wrote on X (previously Twitter) that XRP had surpassed its 2023 peak and was now approaching its 2021 peak.
Source: X (Previously Twitter)
XRP Rally Expected by Brandt
Soruce: Bitcoin Addict
He added that the price of XRP might rise sharply if the altcoin breaks through its 2021 peak. Since Donald Trump, a pro-crypto candidate, was elected President of the United States, the asset has already increased by over 125%.
The $1.96 resistance level that the XRP reached during the last market surge in April 2021 was highlighted by Peter Brandt. A huge rally could start if this level is broken.
Brandt used emojis to suggest a “rocket-like” surge should XRP be able to break through the $1.96 barrier. However, the analyst did not offer a specific price target.
Industry insiders’ optimistic forecast is causing a stir in the cryptocurrency space and has drawn a lot of interest from XRP holders.
Brandt clarified he does not now own or intend to purchase XRP, despite his optimistic outlook. He claims that despite his involvement with non-fungible tokens (NFTs) through his Chart Wizards project, he still has a strong commitment to Bitcoin (BTC) and Solana (SOL).
Factors Affecting the Possible Rise of XRP
If the price of XRP breaks through its 2021 peak, many traders and investors may wonder why it could soar.
A bullish price action pattern, increased interest from traders and investors, substantial accumulation by whales and institutions, the current bullish market sentiment, the resignation of SEC Chair Gary Gensler, and conjecture regarding an XRP Exchange Traded Fund (ETF) in the US are some causes of this optimistic outlook.
Current Price Momentum
The price of XRP has down by over 1.4% in the last day and is currently trading close to $1.11. Its trading volume fell 34% in the same time frame.
Source: coingecko
