Seasoned trader Peter Brandt has shared two charts that hint 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, the pattern will show price growth into 2025.
The daily chart, however, 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 heldA chart is not an opinion and an opinion is not necessarily a position - this is a concept hard to understand by rookies pic.twitter.com/SvaT5hojLW
— Peter Brandt (@PeterLBrandt) December 27, 2024
Earlier, Peter Brandt tweeted that the XRP/USD pair currently seems to be forming a Half Mast Flag.
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If this pattern completes, Brandt suggests the "distance to upside should equal advance into tip of flag," consistent with how this technical formation typically unfolds. While the pattern often signals a substantial price move following a drop, it does not always guarantee upward momentum.
Is 2024 XRP price rally over?
XRP experienced a notable rally in December, reaching a peak of $2.72 on Dec. 3. However, the price has since declined steadily, with heightened volatility during the holiday season. A brief rally followed the launch of Ripple's RLUSD stablecoin but was insufficient to revive XRP's upward trajectory.
Currently, XRP remains 36.3% below its all-time high from early 2018, falling short of setting a new record in December despite earlier momentum.
Currently, the XRP price remains stale, sitting at 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, reinforcing confidence in XRP's long-term potential. These figures highlight the cryptocurrency's resilience and ongoing appeal among investors.
