In simpler terms, the digital currency used on the XRP Ledger is currently showing one of the most promising trends in cryptocurrency, having just tested a possible breakout point. This suggests that a substantial increase towards new record-high prices might occur shortly.
As a diligent analyst, I’ve observed a potential significant surge in the value of XRP, following insights shared by cryptocurrency expert Ali Martinez on the social media platform X (previously known as Twitter).
Currently, XRP is showing a very promising setup within the cryptocurrency market, following its recent test at the breakout area.
— Ali (@ali_charts) January 14, 2025
Currently, XRP is being traded at approximately $2.573. This price increase follows an uptick of over 8.6% in the last 24 hours, which coincides with a broader recovery within the cryptocurrency market. Over the past week, XRP has shown remarkable growth, outpacing most significant digital currencies by nearly 13%.
According to Peter Brandt, a seasoned trader who predicted bitcoin‘s significant drop of around 84% in 2018, has recently hinted that XRP might be shaping a bullish pattern. If this pattern indeed completes, it could potentially boost XRP’s market capitalization to an impressive $500 billion.
On social media platform X, Brandt recently posted to his 768,000 followers, predicting that the bullish flag pattern for XRP will likely finish soon, potentially propelling its market cap to an impressive $500 billion.
In his post, Brand cautioned that if the pattern isn’t finished within six weeks, it should raise significant concerns and added that it might start changing into something new unless it “needs to move and groove quickly, or else it could transform into an undetermined entity”.
It’s been advantageous for XRP since Donald Trump, the Republican candidate, won the U.S. elections in November, due to Trump’s supportive view towards cryptocurrencies. This has led many to speculate that an Exchange-Traded Fund (ETF) focused on XRP might be launched soon, providing exposure to it.
multiple entities have submitted applications for XRP-based exchange-traded funds (ETFs), with Bitwise, Canary Capital, WisdomTree, and 21Shares being among them. Ripple‘s CEO Brad Garlinghouse contends that the creation of such a fund is simply unavoidable.
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2025-01-14 23:43