Experienced analyst Peter Brandt, who has been on the market for a long time and is closely followed with his successful analyses, made a bold prediction for Ripple (XRP).
Sharing from his X account, Brandt claimed that the market value of XRP could exceed $500 billion.
Peter Brandt claimed that there is a halving flag pattern on XRP’s weekly chart and if this pattern is completed within six weeks, XRP will experience a potential breakout.
Brandt said that XRP is at a turning point, stating that it has been consolidating within a flag pattern since a sharp rise last December.
At this point, the analyst stated that the current flag pattern on the XRP chart should gain momentum soon, and that if XRP does not gain upward momentum and the flag pattern is not completed, the flag pattern carries the risk of turning into a different formation and declines may occur.
However, if the flag model is successfully completed, XRP's market cap could potentially reach $500 billion.
“The half-mast flags must be completed within six weeks, otherwise they should be viewed with great suspicion.
“This flag on the XRP chart needs to be completed soon, otherwise it will likely turn into something else. But if it is completed, a $500 billion market cap for XRP could be possible.”
According to CoinMarketCap data, XRP, which is trading at $2.4 at the time of writing and has a market value of $140.3 billion, ranks third in the ranking, just behind Bitcoin and Ethereum.
Half mast flags should complete within six weeks, otherwise they should be viewed with great suspicion. 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 pic.twitter.com/c7BHqnQFkP
— Peter Brandt (@PeterLBrandt) January 6, 2025
*This is not investment advice.
