Veteran Trader Peter Brandt Says XRP Is Possibly Set to Blast Off
2025-07-11 15:17:21
Main Idea
Veteran trader Peter Brandt suggests XRP may be poised for a significant price breakout based on technical chart patterns, though short-term risks remain.
Key Points
1. Peter Brandt noted XRP is 'congesting on the monthly and weekly charts, ready to possibly blast off,' indicating a potential breakout from a bullish wedge pattern.
2. XRP's price has been trading between $2.10 and $2.30, with resistance near $2.34; a breakout above this level could push it toward $3.00–$5.00.
3. As of reporting, XRP was trading at $2.80, continuing its 2025 rally, with large holders accumulating over $1.3 billion worth of XRP.
4. Despite the bullish outlook, a drop below $2.00 could invalidate the breakout thesis, leading to a retracement toward $1.00.
5. Analysts estimate a 95% likelihood of XRP being included in an ETF following Grayscale’s GDLC fund approval by the SEC.
Description
Veteran trader Peter Brandt has stirred excitement across the crypto community with a now-deleted post on X, where he remarked that XRPUSD is “congesting on the monthly and weekly charts, ready to possibly blast off.” The comment, paired with a technical chart, hinted at a major breakout looming for XRP as it compresses within a classic wedge structure. Brandt, known for his decades-long experience in commodities and market charting, has historically been critical of XRP. However, his recent shi...
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