Veteran trader Peter Brandt has spotted a bullish pattern in XRP’s price chart, and it could mean big gains ahead. With recent gains in the XRP price, the XRP community has been fueled with excitement. If the pattern plays out as predicted, XRP could skyrocket to as high as $4.8.
Peter Brandt is no stranger to making accurate market predictions, and his latest analysis of XRP suggests that the cryptocurrency could be set for a breakout.
As XRP has been gaining attention due to its strong performance in the past few with an average gain of almost 500%. Perhaps the recent XRP moves have shown signs of a significant upward move.
Brandt pointed out a “bull flag” pattern on XRP’s daily chart, indicating that the coin might soon push higher in price. He believes that if the pattern plays out as expected, XRP could rise by as much as 15%, reaching $3.5487, or even soar by 43%, potentially hitting $4.39.
In fact, Brandt’s analysis is in line with previous predictions. Earlier, he suggested that XRP could reach as high as $4.6, based on another flag pattern he observed on its chart.
Aligning with the analysis of Peter Brandt, market expert “Disrupt Yourself” confirms the formation of a bull flag on the XRP price chart. The structure is visible on the asset’s 3-hour timeframe, with the analyst speculating that a breakout could push XRP to $3.9.
Adding to the bullish sentiment, Cryptodanovic also supports this pattern. In a recent X post, he pointed out that XRP is currently trading within the bull flag structure. He believes that once the asset breaks out of this pattern, it could soar to an impressive $4.8.
As of now, XRP is trading at $3.10, reflecting a slight rise in the last 24 hours. However, for a strong confirmation of an upward trend, XRP needs to break past key resistance levels. The first challenge is moving above $3.21, followed by a push over $3.40.
Until then, the market remains in a range, and a retest of support between $2.76 and $2.97 is still possible. If XRP drops below $2.76, we might see a larger correction, with the price potentially heading back to $2.52.
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