Veteran trader Peter Brandt has given a bullish outlook on XRP price, suggesting this rally could continue to rise in the coming months bouyed by the Bitcoin price rally to a new ATH today. His prediction comes after a period of consolidation, during which the price has held steady above key support levels.
Peter Brandt Breaks Down XRP Price Trend
Currently, XRP price is trading around $2.60, having broken out of a wedge structure that had been capping the price for months. Peter Brandt points out that the XRP price is consolidating in a tight range before the continuation of an upward trend. As of press time, XRP price was trading at $2.77, a 13% surge from the intra-day low of $2.47.
He notes that this period of sideways movement is not a sign of a top, but rather a pause before the next leg up. According to Brandt, the price is likely to move higher as the consolidation phase comes to an end.
Brandt’s analysis shows that there has been a strong impulse move followed by the current sideways action. According to him, this tendency indicates the continuation, but not the reversal of the tendency. The price is trading above the old resistance level of $2.35-$2.40 which now serves as a support line.
In addition, the volume is in favor of this price action indicating that this is not a false breakout. During the rally, derivatives market data have reflected the positive sentiment with XRP’s open interest climbing by 22.31%, to $7.12 billion and volume surging by over 236% to $29.85 billion, as per Coinglass.
Technical Indicators Point to More Rally
Peter Brandt in his analysis pointed out that the breakout of XRP price in late 2024, in a long-term symmetrical triangle was meaningful. This breakout was on stronger buying volume which further strengthened the move.
Since this time, it has remained in a tight range between $2.00 and $3.00 indicating buyers continue to dominate the market. According to Brandt, this consolidation may turn to be followed by another swift climb upwards soon.
Concurrently, technical indicators on his chart like the Average Directional Index (ADX) sitting above 51, signals a strong trend. Additionally, the Average True Range (ATR) has slightly decreased, a typical sign of a market pause before a larger move aligning with Brandt prediction of a new all time high looming for XRP price.
XRP Becomes Third Largest Crypto
XRP’s price movement has been accompanied by increased interest in the token, both from new users and within the broader market. Santiment data indicate that created wallets of XRP exceeded 6,900 in one day, which is the most significant growth since March 1st.
Furthermore, XRP has achieved high popularity on social media, over 5.5% of all crypto-related conversations focused on this token.
Consequently, XRP has overtaken Tether by market capitalization after hitting $170 billion to become third largest crypto. This market value has increased as a result of both higher network additions and sparking retail interest.
With XRP price trading at a four-month high of $2.97, the altcoin is seeing renewed investor confidence. This bullish sentiment aligns with Brandt’s prediction of further upward movement in the coming weeks.
Kelvin Munene Murithi
Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary .
With a Bachelor’s degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets.
His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content.
Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape.
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