Seasoned trader Peter Brandt has shared two charts that hint at the next possible move for XRP price.
In his recent post on X, Brandt shared a weekly chart that shows a bullish wedge pattern.
If validated, the pattern will show price growth into 2025.
The daily chart, however, suggests a correction from the local top level of $2.728000.
Earlier, Peter Brandt tweeted that the XRP/USD pair currently seems to be forming a Half Mast Flag.
Yuri MolchanIf this pattern completes, Brandt suggests the "distance to upside should equal advance into tip of flag," consistent with how this technical formation typically unfolds. While the pattern often signals a substantial price move following a drop, it does not always guarantee upward momentum.
Is 2024 XRP price rally over?
XRP experienced a notable rally in December, reaching a peak of $2.72 on Dec. 3. However, the price has since declined steadily, with heightened volatility during the holiday season. A brief rally followed the launch of Ripple's RLUSD stablecoin but was insufficient to revive XRP's upward trajectory.
Currently, XRP remains 36.3% below its all-time high from early 2018, falling short of setting a new record in December despite earlier momentum.
Currently, the XRP price remains stale, sitting at the $2.1 level.
The market cap has reached $124.14 billion, reflecting a 1.79% increase, while the 24-hour trading volume stands at $4.02 billion, up by 27.92%. This results in a volume-to-market cap ratio of 3.26%, indicating steady liquidity.
The fully diluted valuation (FDV) has climbed to $216.24 billion, reinforcing confidence in XRP's long-term potential. These figures highlight the cryptocurrency's resilience and ongoing appeal among investors.
Yuri Molchan
Tomiwabold Olajide
Alex Dovbnya