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Prominent commodity trader Peter Brandt has made waves with his most recent XRP price chart, which shows that a massive surge could potentially be in the cards.
The one-week chart, which spans from 2014 to 2027, shows the performance of the XRP token on a logarithmic scale.
It shows two multi-year symmetrical triangles. The first one spans the period from 2014 to 2017, which represents price consolidation before the eventual breakout during the 2017 bull run.
The second triangle shows another lengthy period of consolidation that lasted from 2018 to 2025. The price has now seemingly broken out above the upper boundary, which makes the pattern rather notable.
Brandt's extremely prescient call
As reported by U.Today, Brandt identified XRP as the top short candidate in early October, predicting that its price could plunge all the way to $2.2.
On Oct. 10, the XRP price briefly plunged to $1.77, the lowest level since November, before seeing a quick recovery. The massive drop was in line with the rest of the market, which was absolutely hammered by the escalation in trade tensions between the US and China.
Brandt was quick to "mock" XRP trolls following his prescient call, but some critics argued that the trader simply got extremely lucky.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team