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Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
Crypto XRP Price XRPUSDT Ripple Bitcoin BTC BTCUSDT

XRP Price About To See “Face Ripping” Rally, Legendary Trader Weights In

Reynaldo Marquez by Reynaldo Marquez
1 month ago
in XRP
Reading Time: 2 mins read

The XRP price continues to enjoy positive performance as the crypto market trends to the upside. The current rally confluences with the sector’s historical performance; thus, cryptocurrencies could extend their bullish trend.

Related Reading: XRP Price Breakout Soon? Analyst Points To Bullish Structural Signs

As of this writing, the XRP price trades at $0.58 with a 5% profit in the last 24 hours. In the previous seven days, the cryptocurrency recorded an 11% rally and stood as one of the best performers in the sector over the same period, along with Solana (SOL) and Cardano (ADA).

XRP Price XRPUSDT
XRP’s price trends to the upside on the daily chart. Source: XRPUSDT on Tradingview

XRP Price Bull Run Incoming?

As XRP and other trend upwards, legendary trader Peter Brandt share his positive views on the nascent sector. Brandt has been known for expressing his views on BTC and crypto without reservations, and this time, the forecast is bullish.

On social media platform X, the legendary trader dismissed market actors trying to predict future performance. However, Brandt dared to make three predictions regarding Bitcoin: first, the cryptocurrency is likely to hit bottom, which will lead it to new all-time highs, as seen in the chart below.

This bullish price action is based on the cryptocurrency’s historical performance. Each time the BTC market drops around 78%, Bitcoin bottoms and re-enters price discovery. The XRP price, Ethereum, and other altcoins follow the trend.

In 2017, when BTC went into a bull run, the XRP price reached an all-time high above $3. If history repeats, and based on the fundamentals supporting XRP’s bullish momentum, the token could hit a similar level.

XRP price XRPUSDT Ripple Bitcoin BTC BTCUSDT
Bitcoin is preparing for a massive bull run, setting the stage for XRP and the altcoin sector. Source: Peter Brandt on X

XRP In The Short Term, Levels To Watch

The optimistic forecast in the traditional financial market supports this scenario. If stocks and Bitcoin see further profits, everything will align for XRP and other altcoins to hit their previous all-time highs.

In short timeframes, a pseudonym analyst indicated that XRP formed a bull flag pattern. This bullish market structure hints at a potential run of the high area around $0.66. However, bulls must maintain the token above $0.52 and $0.54 to prevent a run of the lows.

Related Reading: DOGE Breaks Free From Multi-year Descending Order, What’s Next?

The analyst stated the following about XRP and how close it is to completing a significant milestone for further profits:

The first break has just arrived. XRP close to the Mid resistance at $0.5557. Still, the following applies: Bull flag $0.5557 above, to be precise. Invalidation $0.54 below.

Cover image from Unsplash, chart from Tradingview

Tags: cryptoRipplexrpXRP Price ChartXRP Price Predictionxrpusdt
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Reynaldo Marquez

Reynaldo Marquez

Reynaldo is a journalist at NewsBTC with a passion for crypto. He has worked in the space since 2018, and interviewed industry leaders, and written about the ways crypto can impact society and the global economy. In his free time, Reynaldo enjoys weightlifting and reading. He sees crypto as the future of finance and seeks opportunities to learn and grow as a trader.

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