The post Legendary trader says XRP ‘to rock and roll soon’ to $500 billion market cap appeared on BitcoinEthereumNews.com.

After XRP experienced a price breakout above the $1 mark, a legendary trading expert has pointed out that the asset is forming a pattern likely to elevate its market cap to around the half-a-trillion-dollar mark. Specifically, Peter Brandt noted that XRP could soar to a $500 billion market cap in a prediction that hinges on completing a ‘half-mast flag’ bullish technical pattern, as noted in an X post on January 7. Brandt explained that this bullish continuation pattern needs to resolve within six weeks to remain valid. He suggested that if the setup is completed successfully, XRP could reach a market cap of $500 billion.  However, if the pattern takes too long to play out, it could lose its significance or evolve into a different structure. XRP price analysis chart. Source: Peter Brandt “This flag in $XRP needs to rock and roll soon, otherwise it will likely morph into something else TBD. But if it completes, then market cap of $500 B is possible,” he said.  The analysis acknowledged that XRP has experienced a massive rally followed by consolidation. The decrease in trading volume during this consolidation aligns with typical flag behavior, suggesting a potential continuation of the bullish trend.  Should XRP break out of this pattern, the projected market cap of $500 billion is derived by measuring the height of the initial rally and applying it to the breakout point. Therefore, if XRP hits the market cap target, the price would be valued just below the $9 mark. XRP possible 470% breakout  Meanwhile, a bullish analysis was shared by another prominent cryptocurrency analyst, Ali Martinez, who, through an X post on January 6, pointed out that the Ripple-affiliated token is facing the possibility of rallying by 470%. In this case, Martinez stated that XRP’s super trend indicator on the…

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Filed under: News - @ January 7, 2025 12:21 pm