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XRP Price Poised for 100x Rally: Peter Brandt Highlights Bullish Wedge Pattern
Veteran trader Peter Brandt has shared two charts that may indicate the potential next moves of Ripple’s XRP. In a recent post, Brandt shared a weekly chart displaying a bullish wedge pattern. If validated, this pattern would signal a significant price growth into 2025.
The analyst also shared a daily chart indicating a correction from the local top at $2.72 reached on December 3. The price has since declined steadily due to increased volatility during the holiday season. A brief rally followed the launch of Ripple’s RLUSD stablecoin, but it was not enough to propel XRP prices higher.
Despite failing to set a new record in December, XRP’s fully diluted valuation (FDV) has surged to $216.24 billion, reinforcing confidence in its long-term potential.
Brandt’s bullish wedge pattern on the weekly chart suggests that XRP may be preparing for an upward impulse, potentially culminating in significant gains.
Source: coinpedia.org
