XRP Price Analysis by Peter Brandt

Seasoned trader Peter Brandt has shared two charts hinting 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, this pattern may indicate price growth into 2025.

However, the daily chart suggests a correction from the local top level of $2.728000.

> Here are two views of $XRPUSD: a weekly chart and a daily chart.
> Strong opinions, weakly held.
> A chart is not an opinion and an opinion is not necessarily a position – this concept is hard to understand for rookies.
> — Peter Brandt (@PeterLBrandt) December 27, 2024

Earlier, Brandt tweeted about the XRP/USD pair forming a Half Mast Flag. If this pattern completes, Brandt implies that the “distance to upside should equal advance into the tip of the flag,” which aligns with typical behavior of this technical formation. While this pattern often signals a notable price move after a drop, it does not always guarantee upward momentum.

Is the 2024 XRP Price Rally Over?

XRP saw a significant rally in December, peaking at $2.72 on Dec. 3. Nevertheless, the price has steadily declined since then, with increased volatility during the holiday season. A brief rally followed Ripple’s RLUSD stablecoin launch, but it hasn’t been enough to revive XRP’s upward trend.

Currently, XRP remains 36.3% below its all-time high from early 2018, failing to achieve a new record in December despite earlier momentum. Presently, the XRP price is stagnant around 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, bolstering confidence in XRP’s long-term potential. These figures highlight the cryptocurrency’s resilience and ongoing appeal among investors.