XRP Price Ready for Parabolic Rally, Says Peter Brandt

 XRP could be on the verge of a major price surge, according to veteran trader Peter Brandt. With strong technical signals and favorable fundamentals, XRP is poised for a potential parabolic rally. Here’s what needs to happen for this to unfold.

Peter Brandt's Bullish Prediction for XRP


Peter Brandt recently stated that XRP is set to "rip," pointing to a coil pattern in the price chart. This pattern often precedes a sharp upward move. Brandt believes XRP’s fundamentals support this potential rally, including the possibility of a positive resolution to the ongoing SEC lawsuit.

  • Bullish Fundamentals: If the lawsuit ends favorably or SEC Chairman Gary Gensler resigns, it could fuel XRP's rally.
  • Key Resistance Levels: Brandt sees $1.60 as the critical level for XRP to clear. A break above this could lead to a surge toward $9, based on his analysis.
Currently XRP Price is trading at $1.13 as per Coinpedia Market data


For a deeper dive into XRP Price Prediction and market trends, check out our detailed analysis.

XRP Whales Increasingly Active

XRP whales are also contributing to the bullish sentiment, with large holders recently buying $526 million worth of XRP. This accumulation could push the price higher as these whales position themselves for potential gains.

Elliott Wave Analysis: Short-Term Correction Ahead?

Crypto analyst Dark Defender uses Elliott Wave theory to suggest that XRP may face a short-term correction. He notes that XRP recently completed Wave 1 of its third wave, with a potential pullback to $1 before a bullish reversal.

  • Key Levels: If XRP holds above $1.33, a rally to $1.88 is likely, signaling a breakout above its 2021 high and setting the stage for a parabolic move.

Price Targets: What’s Next for XRP?

  • $1.60 Resistance: Clearing $1.60 is crucial for the next phase of the rally.
  • $1.88 Target: If XRP surpasses $1.88, a parabolic rally could follow.
  • $4 Prediction: Some analysts predict XRP could rise to $4 once it clears $1.

XRP’s Potential for Growth

XRP is at a key crossroads. While short-term corrections may occur, the overall outlook remains bullish. If XRP clears resistance levels and favorable legal outcomes materialize, a parabolic rally could be on the horizon. Investors should watch key levels closely as XRP’s next move unfolds.

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