XRP Price Set for Potential 260% Surge, Veteran Trader Predicts $500 Billion Market Cap within 6 Weeks

XRP’s price action has been showing signs of a potential breakout, with veteran trader Peter Brandt suggesting that the altcoin could see a 260% gain within the next six weeks. A successful price movement could lead to a market cap surge to $500 billion, with a price target of $6.40, depending on how the chart patterns evolve.

XRP Eyeing a Breakout Above Resistance

Currently, XRP is testing a critical resistance level that has previously capped its price movements. The altcoin is attempting to close a daily candle above a descending resistance trendline, which has been holding back price action. If XRP can break through this resistance range—between $2.48 and $2.60—then the bulls could gain momentum, signaling the potential for a price breakout beyond $2.72.

Half-Mast Flag Pattern Signals Bullish Potential

Peter Brandt, a seasoned trader, recently shared his thoughts on XRP’s price outlook in a post on X. According to Brandt, XRP is forming a half-mast flag pattern on its weekly chart, a formation that typically signals a consolidation phase in the middle of a trend before a continuation. Brandt suggests that this pattern could complete within the next six weeks, and if it does, XRP’s price could see a massive surge.

If the pattern resolves bullishly, Brandt estimates that XRP’s market cap could skyrocket to $500 billion, representing a 262% gain. This would equate to a price target of $6.40. However, Brandt also cautions that if the breakout doesn’t occur soon, the half-mast flag could morph into a different pattern, leading to unpredictable results.

Short-Term and Long-Term Price Targets

Other analysts are also optimistic about XRP’s price potential. Crypto trader Mikybull pointed out that XRP has formed a bull flag pattern on the 1-day chart, indicating a likely breakout. Based on Fibonacci extension levels, Mikybull has identified an immediate price target of $3.74. However, if the bull flag pattern plays out fully, the long-term target could be as high as $15—a 514% increase from XRP’s current value.

The Key Resistance Range and Price Action Above $2.45

For these bullish price targets to materialize, XRP must clear the current resistance range between $2.48 and $2.60, which has repeatedly capped price action at $2.60 in recent weeks. A breakout above this level would propel XRP toward the targets of $3.74 and $6.40, likely within the next few weeks.

Market analysts are keeping a close eye on XRP’s movement within this range. Dom, an order flow market analyst, pointed out that XRP has been trading within a mid-range for the past six weeks, with a point of control (POC) around $2.45, based on the Volume Weighted Average Price (VWAP) metric. He noted that this balanced profile suggests a breakout is imminent.

Dom further explained, “Any dip into the orange VWAP bands, I will be bidding for longs,” implying that a pullback into certain price zones could present a buying opportunity for traders. However, for the bulls to take control and drive the price higher, a daily close above $2.45 is necessary to break the resistance range and trigger a rally toward the next price targets.

Conclusion

XRP’s price is positioned for a potential rally, with several analysts forecasting significant gains if the altcoin can break through key resistance levels. Veteran trader Peter Brandt’s prediction of a 260% surge, potentially bringing XRP’s market cap to $500 billion, underscores the bullish sentiment surrounding the asset. However, as Brandt warns, timing is crucial, and the chart pattern must resolve soon for the bullish outlook to materialize.

With XRP’s current resistance at $2.60 and the potential for a breakout above $2.45, traders and investors are watching closely to see whether the altcoin can build enough momentum for the anticipated surge. If XRP clears these hurdles, price targets of $3.74 and $6.40 could be on the horizon in the coming weeks.