XRP Surges in Korea, Peter Brandt Sees $2.00 Target

XRP's price has seen a 1.5% surge, reaching near $1.51 in the past 24 hours due to increased trading activity in South Korea. The XRP/KRW pair on Upbit has recorded $72.3 million in 24-hour volume, surpassing Bitcoin's BTC/KRW pair. This significant rise in trading activity has boosted the price of XRP.

Veteran trader Peter Brandt has identified a possible cup pattern forming on XRP, indicating a potential breakout. The setup is crucial as XRP is currently testing the pattern's neckline, which will decide its next major move. The 1.55 zone is the key level, and XRP needs to break and hold above this area to confirm the pattern.

Brandt's chart shows the next major resistance near $1.6572. If XRP breaks above this level, the price could target $1.70, followed by the $2.00 region. The chart also compares the current setup with XRP's earlier long-term breakout patterns, including the structures that preceded its major 2017 rally and late-2024 move.