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- XRP’s market cap has reached $140 billion, with analysts predicting a surge to $500 billion market cap ahead.
- However, veteran trader Peter Brandt warns the current flag pattern must be validated swiftly to avoid a breakdown.
Ripple’s native crypto XRP is once again grabbing the limelight and is on investors’ radar, with its SuperTrend indicator flipping bullish on a 12-hour chart. As per the historical trend, flipping this indicator has led to a massive 470% rally in the past.
Popular crypto analyst Ali Martinez flashed this SuperTrend signal on Monday, January 6, hinting at strong bullish expectations. “The last time the SuperTrend indicator flipped bullish on the 12-hour chart, XRP went up 470%. It just flipped bullish again,” he wrote.
The last time the SuperTrend indicator flipped bullish on the 12-hour chart, $XRP went up 470%… It just flipped bullish again. 👀 pic.twitter.com/tqj40dO9nV
— Ali (@ali_charts) January 6, 2025
If history is any guide, the token’s price could skyrocket beyond the $11 mark, a significant jump from its current levels, reported CNF. Key support remains firm between $2.25 and $2.40, with resistance at $2.60 presenting the next hurdle.
The market cap of XRP has already reached $140 billion in an unprecedented runup after Donald Trump’s election victory in early November. It is now the third-largest cryptocurrency, leaving behind the likes of Tether (USDT) and BNB Coin (BNB). It is already among the best-performing altcoins, with more than 15% gains on the weekly chart.
Martinez pointed out a TD Sequential buy signal on the 4-hour chart, suggesting that a rebound might already be in progress. Furthermore, on an 8-hour chart, XRP has formed a bullish pennant formation hinting at an immediate target of $3.5 in the near term.
$XRP Bullish Pennant Formation in 8H Timeframe✅
Incase of Breakout,Next Target will be $3.50📈✍️#Ripple pic.twitter.com/CFij4jMuvO
— ZAYK Charts (@ZAYKCharts) January 7, 2025
Crypto Market Analysts Weigh in on XRP Price Targets
Despite the current run-up in the market and overall optimism surrounding it, analysts are weighing in between cautious optimism and bullishness. Chart analyst Captain Faibik noted that XRP is approaching a critical bullish flag breakout on the daily timeframe, which could trigger a potential 50% rally if confirmed.
$XRP is on the verge of Bullish Flag Breakout on the Daily timeframe Chart..!!
Expecting another +50% Bullish Rally after Successful Breakout.. 📈#Crypto #XRP #XRPUSDT #XRPArmy pic.twitter.com/FuVjhDbdBN
— Captain Faibik 🐺 (@CryptoFaibik) January 7, 2025
On the other hand, renowned trader Peter Brandt has issued a cautious note regarding XRP’s current price pattern, suggesting the need for swift action to validate its bullish potential. “Half-mast flags should complete within six weeks; otherwise, they should be viewed with great suspicion,” Brandt stated in a recent post. Referring to XRP’s ongoing pattern, he added, “This flag in $XRP needs to rock and roll soon; otherwise, it will likely morph into something else that is TBD.”
Brandt’s analysis highlights the critical timeline for the flag formation. If XRP confirms the pattern, it could achieve a significant rally, with the possibility of reaching a market capitalization of $500 billion.
Crypto asset manager Grayscale and data infrastructure platform Artemis have expanded their crypto offerings by adding XRP to their list of assets recognized for exchange, store of value, and peer-to-peer transactions. The list, which already includes Bitcoin (BTC) and Litecoin (LTC), highlights XRP’s unique attributes, such as its hard-capped supply, widespread adoption, and strong resistance to censorship, reported CNF.
