Peter Brandt Highlights Bullish Wedge Pattern
In a recent X post, veteran trader Peter Brandt shared two charts that could hint at XRP’s potential next move. Notably, Brandt shared a weekly chart showing a bullish wedge pattern. If confirmed, the model would show price growth through 2025. However, the daily chart suggests a correction from the local top level of $2.728000.
Previously, Peter Brandt had shared The XRP/USD pair currently appears to be forming a half-mast flag. If this pattern is completed, Brandt advises that “the distance upward should be equal to the distance into the tip of the flag.”
He noted that potential upside could match the previous move into the tip of the flag, which is typical for this pattern. While it often signals large moves following a price drop, it doesn’t always ensure upward momentum.
Bullish Insights on Credible Crypto
Recently, cryptocurrency analyst and trader Credible Crypto published the latest Youtube The video shows that, according to the charts, XRP is one of the most bullish market structures in the cryptocurrency space.
XRP is one of the few coins right now that is printing a very clear bullish pulse structure on lower time frames, higher time frames, every time frame. And it’s very easy to clearly identify,” he points out.
“This is what we are seeing on XRP – very clean price action showing impulsive price movements,” he further added.
The analyst often applies the Elliott Wave Theory in his technical analysis and noted that XRP could rise as much as 1,295% from current levels. Notably, in technical analysis, the Elliott Wave Theory suggests that bullish assets undergo a five-wave rally before correcting in a three-wave pattern.
Credible believes that XRP is preparing for upward momentum, with the potential to reach above $4 and reach an all-time high. He said this could be part of a larger third wave move that could eventually push XRP above $5. As the final fifth wave progresses, Credible predicts that XRP may reach a peak of $20 to $30.
Will XRP hit double digits?
“As we prepare for the final fifth wave, I think we will be in the double digits at that point. This fifth wave will take us to the breakout top or final top of $20 to $30,” he said pointed out.
Notably, XRP saw significant gains in December, peaking at $2.72 on December 3. However, XRP price has steadily declined due to increased volatility this holiday season. While Ripple’s RLUSD stablecoin saw a brief surge following its launch, it wasn’t enough to push XRP to new heights.
XRP is currently 36.3% below its all-time high in early 2018, having failed to set a new record in December despite previous strong momentum. Nonetheless, the fully diluted valuation (FDV) has climbed to $216.24 billion, reinforcing confidence in XRP’s long-term potential.
