Peter Brandt Calls Ripples XRP Chart the Most Powerful in Crypto Amid Path to $20 XRP Price
XRP has been on an extraordinary price run since Donald Trumps surprise presidential election victory in early November, which many see as a catalyst for broader optimism in the crypto space.
After rallying by roughly 285% in November alone, XRP began December with continued momentum, climbing an additional 35% despite a minor correction from its $2.9 high to $2.20 earlier last week. Notably, the recent surge in XRPs price has reignited bullish sentiment among investors and analysts, with many predicting significant upside potential.
On Sunday, veteran market analyst Peter Brandt shared his enthusiasm for the third-largest cryptocurrency by market capitalization. The pundit described the XRP/USD chart as the most powerful in all of the crypto world, highlighting its breakout from a seven-year triangular consolidation pattern, a move he sees as a strong signal for continued upward momentum. This follows his December 2 analysis, where he highlighted the chart pattern and suggested XRP could rally to $4.50 to $5.00 based on the measured move.
Other analysts share similarly optimistic outlooks. Javon Marks pointed out that XRPs price has already hit the $2.47 target projected earlier this year. With a break and hold above $2.47, the $4.804 target is in play, Marks said, adding that XRP could achieve a new all-time high, with a 90% upside still possible from its current levels.
Elsewhere, technical analyst Jaydee highlighted indicators that suggest XRP is primed for a breakout. Adding two indicators gives us better confluence on a potential breakout to ATH, he noted, referencing a bullish MACD cross, Stochastic RSI climbing above 80, and price action breaking through key resistance.
Meanwhile, other analysts, like Cryptobilbuwoo, have laid out even loftier price targets for XRP, including $6.15 and $26.6, with speculative scenarios reaching as high as $589. These ambitious forecasts are supported by XRPs parabolic curve pattern, which has already seen the cryptocurrency surpass four major price targets, $0.64, $0.915, $1.13, and $1.612, since November.
Beyond technical factors, fundamental catalysts are also driving optimism. Ripples upcoming RLUSD stablecoin is expected to be pivotal in reducing transaction volatility, making XRP a more attractive option for institutional use. On Sunday, analyst Armando Pantoja described RLUSD as the path to $20, explaining that it could facilitate mass adoption by providing a stable bridge for cross-border transactions.
Moreover, Trumps pro-crypto stance and policy changes, such as appointing crypto-friendly regulators, are expected to create a more favorable environment for Ripple and XRP in the United States. These developments could help Ripple reclaim its position as a leader in global payment systems, further driving demand for XRP.
According to CoinMarketCap data, XRP traded at $2.4 at press time, reflecting an 8.24% loss in the past 24 hours.
Text source: ZyCrypto
