The XRP ecosystem is radiating bullish momentum as macroeconomic factors align in its favor. The latest catalyst fueling optimism is Grayscale’s move to join the XRP exchange-traded fund (ETF) race, signaling increased institutional traction toward the third-largest cryptocurrency by market capitalization. This development has stirred anticipation regarding potential approval, adding to the growing enthusiasm in the market.
XRP’s Intraday Rally and Market Sentiment
XRP responded positively to the ETF-related news, surging to an intraday high of $3.1553 before facing a pullback. Despite the temporary retracement, renowned market expert Peter Brandt remains optimistic about XRP’s future trajectory. While acknowledging that he is not personally invested in XRP, Brandt highlighted a bullish flag pattern on the asset’s daily chart, suggesting an impending breakout to new highs.
Hey $XRP_pill_poppers
— Peter Brandt (@PeterLBrandt) January 30, 2025
To be clear: I could care less what XRP is going to do. If it goes up I want to be long. If it goes down I've never shorted it, but prefer to troll the poppers.
No other way right now to define the chart other than a bull flag. Of course this could change pic.twitter.com/riMwNI7DMW
Bullish Flag Pattern Points to Explosive Gains
Brandt’s technical analysis indicates that XRP could soon witness significant upward momentum. The flag pattern, a widely recognized bullish continuation signal, suggests that a breakout could propel XRP toward $3.5487 (a 15% rally) and subsequently to $4.3954 (a 43% surge). His projection aligns with his earlier forecast of XRP reaching $4.6 based on a half-mast flag formation.
Other market analysts have echoed Brandt’s bullish outlook. Crypto strategist “Disrupt Yourself” identified a similar flag formation on XRP’s three-hour chart, predicting a breakout rally to $3.9. Additionally, analyst Cryptodanovic reaffirmed this perspective in an X post, forecasting an upswing to $4.8 once the pattern confirms a breakout.
$XRP zoomed in view on a bull flag, 3 hr tf, when price breaks out of flag, here's the 'short term' play, expecting price to reach $3.90 level…#XRP #XRPCommunity #XRPArmy pic.twitter.com/hD2miQqxiI
— Disrupt Yourself (@EasychartsTrade) January 30, 2025
Current Market Performance
At the time of writing, XRP is trading at $3.0769, reflecting a 2% dip in the last 24 hours. While short-term fluctuations persist, the overarching sentiment remains highly bullish. With institutional interest on the rise and technical indicators favoring an uptrend, XRP appears poised for a substantial rally in the coming weeks.
Also Read: XRP Faces Drop in Payment Volume But Surges in DEX Activity: Can a $4 Rally Be Achieved?
As traders and investors keenly watch for a breakout, all eyes remain on whether XRP can sustain its bullish trajectory and reclaim new all-time highs.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.