Peter Brandt notes that XRP's price is consolidating in a narrow range before continuing an upward trend. At the time of this edition's closing, XRP's price was $2.77, a 13% increase from the intraday low of $2.47.
He indicates that this period of sideways movement is not a sign of a top, but rather a pause before the next bullish leg. According to Brandt, it is likely that the price will rise as the consolidation phase comes to an end.
Brandt's analysis shows that a strong momentum has occurred, followed by the current sideways trend. According to him, this trend indicates continuation, not reversal. The price is trading above the former resistance level of $2.35-$2.40, which now acts as a support line.
Moreover, the volume supports this price action, indicating that this is not a false breakout. During the rally, derivative market data reflected positive sentiment: XRP's open interest increased by 22.31% to $7.12 billion, and volume rose by more than 236% to $29.85 billion, according to Coinglass.
In his analysis, Peter Brandt noted that the breakout of XRP's price in late 2024, in a long-term symmetrical triangle, was significant. This breakout was due to increased buying volume, which further strengthened the move.
Since then, it has remained in a narrow range between $2.00 and $3.00, indicating that buyers continue to dominate the market. According to Brandt, this consolidation could soon be followed by another rapid rise.
At the same time, technical indicators in his chart, such as the Average Directional Index (ADX), which is above 51, signal a strong trend. Additionally, the Average True Range (ATR) has slightly decreased, a typical signal of a market pause before a broader move, in line with Brandt's prediction of an imminent new all-time high for XRP's price.