Well-known trader Peter Brandt released a chart analysis suggesting a potential upward movement for XRP's price. This statement coincided with growing interest in the cryptocurrency evidenced by rising wallet numbers and discussions regarding exchange-traded funds (ETFs).
Chart Analysis from Peter Brandt
Peter Brandt posted an analysis indicating that XRP's chart shows potential for a significant upward move. He pointed out that the current price consolidation might lead to a rally towards $9.63, representing a substantial increase from current levels. Brandt did not reference any external events, focusing strictly on price patterns.
ETF Discussions Around XRP
Simultaneously, XRP has become a focal point for renewed talks about potential exchange-traded funds. A recent price surge to $2.69, marking a 10% increase over 24 hours, has sparked speculation that large asset managers may be preparing to launch products linked to XRP. BlackRock was notably mentioned, though no official filings have been confirmed.
Wallet Growth and Interest in XRP
Data indicates that the total number of XRP wallets has increased by more than 800,000 since the start of the year, suggesting a growing interest from new participants. Although the number of active wallets showed a slight decline, the overall trend points towards long-term holders, which may also support XRP’s future growth.
The combination of current price trends, increasing wallet numbers, and ETF discussions creates a favorable environment for further XRP growth. Investor interest in this cryptocurrency continues to rise, potentially impacting its future dynamics.
