XRP Set to Explode? Peter Brandt Signals Massive Breakout Ahead

• Peter Brandt confirms XRP setup signals a strong upward move.
• XRP consolidates above $2.60 after key resistance breakout.
• Volume and price action point to another bullish rally ahead.

XRP is gaining attention once again after a rare technical endorsement from renowned chart analyst Peter Brandt. The veteran trader, respected across the financial markets for his decades of experience, has issued a bullish chart signal for XRP, describing the current setup with three words: “Up Up Up.”

According to Brandt, XRP’s recent price action shows a classic trend continuation pattern. He highlighted a yellow consolidation zone, which he interprets as a healthy pause before the next move upward. The consolidation is occurring after XRP broke out of a wedge structure that had capped its price for months.

At the moment, XRP is stabilizing at the price of over 2.60, the critical level that could serve as the breaching point of horizontal and diagonal resistance markers. It was a clean breakout with good volume, implying that the action was not anything but a speculative exercise.

The price is currently holding within a tight range above 2.35 to 2.40, which was previously the resistance zone. This is a very powerful technical indicator since this change in trend indicates that buyers are in charge of the market.

Also Read: Charles Hoskinson Predicts Trillions in Altcoins as Bitcoin Hits $118K

Peter Brandt’s Chart Signals Renewed Momentum for XRP

Brandt’s chart outlines a setup that aligns with historical bullish continuations. When price action is tight at peak levels of a robust move, and no excess supply is coming into the market, it indicates a possibility of sellers stepping aside and buyers keeping on with accumulating.

Even more interesting about this development is that Brandt had previously been skeptical of XRP. His blistering turn to a bullish tone is purely technical and not sentimental or influenced by outside forces. The very pattern of the charts speaks for itself, and Brandt has merely recognized it.

The volume patterns are also favorable, with the breakout indicating increased volume movements and the consolidation depicting a reduction. This action typically indicates that another leg up is being prepared.

With XRP consolidating above $2.60 and chart analyst Peter Brandt signaling a bullish continuation, the conditions appear set for a potential explosive move. Market participants are closely watching the price action as momentum builds.

 Also Read: China May Be Warming Up to Stablecoins as Shanghai Holds Key Meeting

The post XRP Set to Explode? Peter Brandt Signals Massive Breakout Ahead appeared first on 36Crypto.