31 January 2025
Updated 1 February
Updated 1 February
2 0
XRP Price Target Set at $4.39 by Analyst Peter Brandt
Technical analyst Peter Brandt suggested a "bull flag" continuation pattern for XRP in a recent post, targeting an upper price objective of $4.39541 based on the current market structure.
- XRP previously rallied above $2.6040 and peaked near $3.2140 before entering a pullback.
- The pullback formed lower highs and lower lows, creating a textbook bull flag pattern.
- Brandt indicated potential resistance levels at $3.5487 and $4.39541 if XRP extends its rally.
- The 8-day moving average indicates short-term support above $3.00, while the 18-day moving average reinforces the broader uptrend.
- ADX reading of 17.05 suggests moderate trend strength, allowing room for momentum if the price breaks from the flag.
- A 30-day Average True Range value of 0.2135 highlights increased daily volatility compared to prior phases.
Trader HTL-NL noted bullish confirmations using Wyckoff analysis, indicating that XRP is showing classic phases of accumulation, including an Automatic Rally (AR) and a Sign of Strength (SoS), which suggest potential continued upside.
XRP was trading at $3.09 at press time.