Peter Brandt Shared Two Important Charts for XRP Coin!

As you follow from Kriptokoin.com, the weekend is generally calm. While the leading crypto Bitcoin consolidates around $ 94,000, altcoins have a mixed outlook.

Cryptocurrency markets gained strong momentum towards the end of 2024. XRP Coin played an important role in this momentum. However, there was a slowdown in this momentum later. Investors are wondering what course it will take next. Legendary analyst Peter Brandt shared his latest views for XRP.

Peter Brandt shared two important charts for XRP Coin!

As you follow from Kriptokoin.com, the weekend is generally calm. While the leading crypto Bitcoin consolidates around $ 94,000, altcoins have a mixed outlook. Veteran analyst Peter Brandt shared two charts pointing to the next possible move for the XRP Coin price. In the last article, Brandt pointed to a weekly chart showing a bullish wedge pattern.

Accordingly, if confirmed, this model will show a price increase until 2025. However, the daily chart shows a correction from the local top level of $ 2,728000.

Earlier, Peter Brandt shared that a Half Mast Flag appears to be forming for XRP Coin. If this pattern is completed, Brandt suggests that ‘the upside distance should equal the advance towards the tip of the flag,’ consistent with how this technical pattern typically unfolds. This pattern usually signals a significant price move following a decline. However, it does not always guarantee upside momentum.

Is the 2024 XRP price rally over?

XRP Coin experienced a remarkable rally in December. The token reached a peak of $2.72 on 3 December. However, the price has steadily declined since then. Also, volatility increased during the holiday season. There was a brief rally following the launch of Ripple’s RLUSD stablecoin. However, this rise was not enough to revive XRP’s upward trend. Currently, XRP Coin is 36.3% below its all-time high in early 2018. It also failed to set a new record in December despite earlier momentum.

Currently, the XRP Coin price is hovering around $2.1. The market capitalisation increased by 1.79% to $124.14 billion. Also, the 24-hour trading volume increased by 27.92% to $4.02 billion. This resulted in a volume/market capitalisation ratio of 3.26%, indicating stable liquidity. Fully diluted valuation (FDV) rose to $216.24 billion. Thus, it reinforced confidence in XRP’s long-term potential. These figures emphasize the cryptocurrency’s resilience and ongoing appeal among investors.

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