The XRP price continues to deliver positive performance as the crypto market shows a positive trend. The current rally coincides with the sector’s historical performance; Cryptocurrencies could thus extend their bullish trend.
At the time of writing, the XRP price is trading at $0.58 with a gain of 5% in the last 24 hours. Over the previous seven days, the cryptocurrency rallied 11%, making it one of the best performers in the sector over the same period, along with Solana (SOL) and Cardano (ADA).
XRP Price Bull Run Coming?
As XRP and other trends rise, legendary trader Peter Brandt shares his positive view on the emerging sector. Brandt is known for expressing his opinions on BTC and crypto without reservation, and this time the predictions are bullish.
On social media platform X, the legendary trader turned down market players trying to predict future performance. However, Brandt dared to make three predictions regarding Bitcoin: First, the cryptocurrency will likely bottom, leading to new all-time highs, as seen in the chart below.
This bullish price action is based on the historical performance of the cryptocurrency. Every time the BTC market drops by around 78%, Bitcoin bottoms out and re-enters the price trend. The XRP price, Ethereum and other altcoins are following the trend.
In 2017, when BTC entered a bull run, the XRP price reached an all-time high above $3. If history repeats itself, and based on the fundamentals supporting XRP’s bullish momentum, the token could reach similar levels.
XRP in the short term, levels to watch
The optimistic forecasts on the traditional financial market support this scenario. If stocks and Bitcoin see further gains, everything will be in line for XRP and other altcoins to reach their previous all-time highs.
In short time frames, a pseudonymous analyst indicated that XRP was forming a bull flag pattern. This bullish market structure indicates a potential run from the high area around $0.66. However, bulls need to keep the token above USD 0.52 and USD 0.54 to avoid a series of lows.
The analyst declared the following about XRP and how close it is to reaching a major milestone for further profits:
The first break has just arrived. XRP close to the Mid-resistance at $0.5557. Still, the following applies: Bull flag $0.5557 above, to be precise. Invalidation $0.54 below.
Cover image from Unsplash, chart from Tradingview
