XRP price starts its next rally wave, skyrocketing more than 10% in the last 24 hours. Analysts noted multiple patterns including symmetrical triangle pattern’s breakout to predict a massive momentum and a bullish price target. Here are the reasons supporting the imminent upside move in the coming days.
At present, XRP price holds above $2.50 support, up nearly 4% in a week. The 24-hour low and high are $2.34 and $2.60, respectively. Trading volume remains volatile as traders turn cautious ahead of US CPI and PPI release after strong US jobs data last week.
XRP Price Technical Charts Breakout
Veteran trader Peter Brandt’s $500 billion market cap prediction for XRP sparked significant market buzz last week. He highlighted that XRP bull flag breakout will technically confirm a significant increase in market cap in 2025. The breakout in XRP price chart has happened.
In an X post on January 12, he shared the XRP price chart depicting a clear bull flag pattern breakout in the daily timeframe. “Leader of the pack XRP,” he commented to point out a bullish momentum crypto asset will likely witness in 2025.
Peter Brandt’s XRP price prediction signals an easy move above $3 this time. He gave a short-term price target of $3.4 as the community anticipates several good news for Ripple and XRP this year.
CoinGape’s analysis for XRP price reveals the asset is facing resistance at $2.60. It needs to break above the resistance level and previous $2.90 high for a strong move above $3.
Bollinger bands indicate potential for a massive upside with XRP price moving near upper band. Moreover, RSI at 60 signals significant room for uptrend, supporting the breakout.
High Whales and Traders’ Activity
Popular crypto analyst Ali Martinez revealed that many traders are shorting XRP at $2.60. This has created a substantial liquidation zone that market makers may try to grab.
Notable whale activity was recorded in the last 24 hours. Whale Alert reported 24,000,00 XRP worth over $60 million transferred from Upbit to a wallet. Recently, a 300 million XRP moved from Ripple to an unknown wallet has also made significant buzz.
XRP ETF and Improving Regulatory Conditions for Ripple
Ripple CEO Brad Garlinghouse disclosed major developments in the US by the company in the last six months, including approval for RLUSD stablecoin launch. He believes the incoming Trump administration to further elevate business development opportunities for the company in the United States.
Meanwhile, experts such as ETF Store president Nate Geraci have predicted high odds for XRP ETF approval this year. Financial giants like Bank of America’s integration of XRP for internal transactions signals mainstream adoption of the crypto asset.
Lawyers including ex-SEC Marc Fagel and Jeremy Hogan believe incoming US SEC Chair Paul Atkins may decide not to pursue the appeal in XRP lawsuit. The Ripple vs SEC case end is near amid executives attending dinner with President-elect Donald Trump.
The post Here’s Why XRP Price Is Skyrocketing? Peter Brandt’s Bullish Prediction appeared first on CoinGape.
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