Peter Brandt has stirred quite the buzz in the crypto community by suggesting that XRP could skyrocket by a staggering 262%, possibly reaching a market cap of $500 billion. With the current price at around $2.40, this projection hints at an exhilarating leap to approximately $8.70—and who wouldn’t want a piece of that action?
Brandt, a seasoned figure in price analysis, pointed to a bullish flag pattern in his assessment. He remarked that “half mast flags should complete within six weeks; otherwise, they deserve skepticism.” Should this pattern hold true, the possibility of hitting that hefty market cap becomes more than just a hopeful dream.
A glance at the XRP landscape shows a notable trend—selling pressure on exchanges has remained low. This low selling pressure signals a strong belief among XRP holders of an imminent price surge. According to CryptoQuant, exchange inflows have been remarkably steady since the major rally in November, indicating that many investors are opting to hold on to their tokens rather than cashing out.
Delving deeper into exchange activities reveals that the largest XRP reserves belong to Upbit, holding around 6 billion tokens, followed by Binance with 2.9 billion. Notably, Upbit’s reserves have recently dipped to a seven-month low, suggesting that users are transitioning to self-custody. This trend hints at rising optimism regarding the potential for an XRP price spike in the medium term.
If Brandt’s forecast materializes, XRP could even surpass Ethereum (ETH) as the third-largest digital asset. This anticipated rally could be further fueled by rising expectations around an XRP ETF and the unfolding altcoin season in 2025.
Looking ahead, XRP’s immediate bullish target is set at $3.40, which translates to a 52% potential gain if it breaks through its current triangle pattern. However, bear in mind that a bearish breakout could send prices tumbling back to $1.10.
In this exhilarating mix of expectations and market sentiment, XRP seems primed for action, and many are eagerly awaiting the unfolding drama in this vibrant market. Buckle up—the next few months could be a wild ride for XRP enthusiasts!
