Peter Brandt has shown optimism regarding the price of XRP amid a growing expectation the coin will lead the alt season
XRP, in the past few days, has experienced bullish sentiment as the coin attempts to retest new heights in the cryptocurrency market. Peter Brandt, renowned trader and market analyst, says analysis of the technical formation of the asset could see XRP skyrocket to $502 billion in market capitalization.
Will XRP Repeat Historical Surge?
Brandt’s predictions come from his analysis of the “flag pattern.” Generally, when an asset completes consolidation, the price often moves in the initial price direction. According to Brandt, XRP’s flag pattern is half-mast and should be completed in another six weeks.
Half mast flags should complete within six weeks, otherwise they should be viewed with great suspicion. This flag in $XRP needs to rock and roll soon, otherwise it will likely morph into something else TBD. But if it completes, then market cap of $500 B is possible pic.twitter.com/c7BHqnQFkP
— Peter Brandt (@PeterLBrandt) January 6, 2025
Based on this, the market analyst believes that XRP could go on a bullish trajectory if it is completed. This bullish cycle could push XRP value to a staggering $500 billion market capitalization from its current $133.1 billion. This projection relies on the assumption of a continuation of the bullish sentiments that influence price movement.
Brandt, however, cautions that if the flag pattern extends beyond the six weeks, it might lose its reliability as a bullish signal. He notes that the situation should be viewed with “great suspicion,” meaning the outcome might not occur. That is, XRP’s price action could shift from the typical pattern.
XRP investors witnessed a dramatic surge in the asset’s market capitalization from $28.13 billion to $165.74 billion within two months. Notably, following the electoral victory of Donald Trump in November 2024, XRP skyrocketed from $0.50 to about $2.80 in December 2024. This exceptional record climb in seven years resulted in massive gains for investors.
Shifting Sentiment and Future Prospects
Based on Brandt’s analysis, for the coin to flip $500 billion in market capitalization, the price would have to soar to approximately $8.74 per token. If this happens, despite the price differential between XRP and Ethereum, the asset could be displaced from the second position regarding market capitalization. At the moment, Ethereum has a market cap of $403.79 billion.
Interestingly, Brandt has always been skeptical about XRP until his recent shift in stance. Last year, he identified $1.96 as a critical resistance level for XRP. Brandt suggested that if XRP surpasses the mark, it could trigger notable price appreciation. Eventually, XRP flipped the resistance and now serves as a support level for the asset.
Investors would hope Brandt’s recent prediction continues, particularly with the other external market dynamics in the XRP ecosystem. This includes the RLUSD stablecoin performance and a possible end to the Ripple lawsuit with the Securities and Exchange Commission.
Additionally, the market anticipates the launch of an XRP exchange-traded fund (ETF) in 2025. Remarkably, Polymarket data shows that the asset has a 70% chance of successfully launching by Ripple this year.
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