XRP Poised for $5 Rally as Brandt Predicts Bull Market Momentum
Veteran trader Peter Brandt has made a bullish call on XRP, predicting it could rally above the psychological $5 level. This comes amid renewed optimism about the potential start of a new bull market, with BTC rallying to an 8-month high of $87,000.
Brandt's long-term XRP chart suggests that the coin could eventually rally to $5.40, which is significantly higher than its current price. His chart implies that the coin could reach this level by next year, although he did not specify a specific date or timeframe for this potential increase in value.
The bullish call on XRP comes amid a broader crypto market recovery, with Bitcoin rallying to an 8-month high of $87,000 today and XRP climbing above $1.50 today. This represents an over 8% increase in price over the past three days, according to TradingView data.
Crypto analyst Ali Martinez has also predicted that XRP could rally to $1.60 in the short term, citing on-chain data that suggests there may still be room to run. He noted that whales have accumulated over $2 billion worth of coins and that this demand is now showing up in the price.