Veteran trader Peter Brandt has shared his insights on the cryptocurrency XRP, indicating a potential significant price breakout in the near future.
Technical Structure of XRP
Peter Brandt noted that XRP's charts indicate a prolonged period of price consolidation, often preceding significant shifts. He pointed to a bullish wedge formation, suggesting a potential upward breakout. Brandt previously referred to this chart as 'the most powerful chart in all of crypto.'
XRP Market Overview
As of the time of writing, XRP is priced at $2.80, fluctuating between $2.44 and $2.81. Increasing investor interest and large holder accumulation sustain the ongoing rally of the cryptocurrency in 2025. In recent weeks, large investors have purchased over 610 million XRP worth more than $1.3 billion.
Risks and Possible Scenarios
Despite the optimistic outlook, there is a chance of a short-term correction. Technical indicators suggest overbought conditions, which historically precede trend reversals. If XRP falls below the $2.00 mark, it could jeopardize the bullish outlook.
XRP's current position appears critically important. Technical structures indicate a potential breakout on the horizon, but short-term risks should not be overlooked.
