Veteran analyst Peter Brandt believes XRP is poised for significant growth, especially after its price surpassed the $1 mark.
Peter Brandt's Forecasts
Peter Brandt, with 50 years of market analysis experience, explained that another rally may follow XRP's recent break above $1. He noted that a large coil has formed on the XRP chart, indicating a potentially bullish outlook.
Conditions for XRP Growth
The analyst emphasized that XRP's fundamentals remain strong due to several recent developments. Brandt believes that if positive developments continue and the bullish trend holds, XRP could experience significant price increases.
XRP's Market Position
If XRP surpasses the $1.96 resistance level reached in April 2021, it could trigger a major rally. Currently, XRP is trading at $1.1, having decreased by 3.7% in the last 24 hours, while it increased by 72.8% over the last week.
XRP stands on the brink of a potentially major uptrend, although future developments will depend on multiple factors, including its ability to overcome key resistance levels.
