Interesting Insights on XRP’s Future Moves 🚀
Veteran trader Peter Brandt has recently shared valuable charts that might indicate future movements for XRP. His weekly analysis illustrates a bullish wedge pattern, pointing towards potential price increases into 2025. However, observations from a daily chart indicate a possible correction from the recent high of $2.728.
Previously, Brandt indicated that the XRP/USD pair could be forming a Half Mast Flag. He suggested that if this pattern materializes, the upward movement could potentially mirror the previous ascent to the flag’s tip. Even though this pattern often denotes significant price shifts after a decrease, it doesn’t guarantee continued upward momentum.
✍️ Insights from Credible Crypto
Credible Crypto, a prominent analyst and trader, recently discussed XRP’s market structure in a new video, emphasizing its strong bullish characteristics. He pointed out that XRP is among a select few cryptocurrencies currently exhibiting a distinctly bullish structure across various timeframes.
According to Credible, XRP is demonstrating clear price action that indicates strong momentum. He specializes in applying the Elliott Wave theory in his analyses. According to him, XRP could potentially increase by an impressive 1,295% from its current position. This theory typically suggests that a bullish asset will experience a five-wave upswing followed by a three-wave correction.
Credible anticipates that XRP is gearing up for a significant upward movement, aiming for $4+ and possibly setting new all-time highs. He believes this could be part of a broader third-wave surge, with the potential to push XRP to $5 or higher. As the fifth wave evolves, he expects a blow-off top in the range of $20 to $30.
XRP’s Possibility of Reaching Double Digits? 💰
Credible also shared expectations regarding XRP reaching double-digit values, stating, “By the time we’re gearing up for this final fifth wave, I would imagine that we would have hit double digits at that point. And this fifth wave will take us to the blow-off top or the final top of $20 to $30.”
In December, XRP experienced a significant increase, peaking at $2.72 on December 3. However, it has faced a consistent decline, attributed to rising volatility during the holiday season. A slight recovery occurred after the launch of Ripple’s RLUSD stablecoin, but it failed to elevate XRP to new heights.
XRP is currently trading 36.3% lower than its all-time peak from early 2018 and has not achieved a new all-time high in December despite initial positive momentum. Nevertheless, its fully diluted market valuation has surged to $216.24 billion, fostering confidence in its long-term prospects.
Hot Take on XRP’s Trajectory 🔥
The charts and analysis from key figures like Peter Brandt and Credible Crypto suggest that XRP is positioned for several potential upward movements. The bullish wedge pattern identified by Brandt may signify a substantial price increase, particularly if accompanied by the envisioned developments discussed by Credible. As market dynamics continue to evolve, XRP may become a focal point for traders and analysts alike.
With a compelling blend of technical signals and expert insights, XRP’s journey in the near future is one to watch closely. The interplay between bullish patterns and market behavior will shape the path ahead for this cryptocurrency.
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