Legendary trader Peter Brandt recently shared a chart showing the potential for XRP's price to rise in the near future. This information comes amidst rising interest in XRP, with increasing wallet numbers and speculation about the launch of ETFs.
Additionally, Ripple's lengthy lawsuit has sparked discussions in the market, contributing to shaping the future outlook of this currency.
Peter Brandt forecasts growth for XRP.
Brandt's chart shows that XRP's price is in a consolidation phase and could lead to a significant surge to $9.63—a price significantly higher than the current price. If realized, this would be a major leap for this currency.
However, it is noteworthy that Brandt does not mention any external factors in his analysis. He focuses entirely on XRP's price pattern. Nevertheless, he also notes that while the market may be in a pause phase, the next move could be a strong growth.
Brandt's idea is not based on news or external events, but entirely comes from technical analysis. This is further reinforced by a similar perspective from other traders, like Javon Marks. In a recent post, Marks also mentioned the target price of $9.63 and suggested that XRP may be preparing for a price increase.
According to Marks, there are several notable signals indicating that XRP is on a growth trajectory, enhancing confidence in a potential price increase. This aligns with data showing an increase in the number of XRP wallets, a factor that could strongly impact the market.
Steph Is Crypto, an influencer on social media, pointed out that the number of XRP wallets has increased by more than 800,000 since the beginning of the year, even though the number of active wallets has slightly decreased. However, the overall increase in XRP holders still indicates growing interest from the community, especially among new investors.
The combination of technical signals from the chart and wallet trends is attracting investor attention. Discussions about XRP's price increase have become a hot topic on platforms like X, where every news and rumor about cryptocurrency often changes rapidly.
All these factors raise expectations for the potential price increase of XRP in the near future.
Discussions about ETFs are fueling the fire.
Discussions around XRP have become more lively as rumors about potential ETF funds begin to surface. The recent market growth has pushed XRP's price to $2.69, recording a 10% increase in just 24 hours, which further fuels curiosity about whether XRP could become part of institutional investment products in the future.
In this context, BlackRock, one of the major players in the asset management industry, is mentioned in speculation regarding XRP ETFs. However, there is currently no official confirmation about the launch of an ETF fund linked to XRP. Nonetheless, as Ripple's legal issues are gradually being resolved, many believe that XRP could become a strong candidate for professionally managed investment funds in the future.
One notable move is that Truth Social, Donald Trump's social media platform, has submitted a plan to establish a Crypto Blue Chip ETF, in which XRP is one of the key assets the fund intends to track. This is a strong signal of the growing interest in XRP within the institutional investment community.
Notably, the DTCC has listed the ProShares Ultra XRP ETF in its product database, opening up more investment options for those interested in this altcoin. Alongside that, Teucrium's leveraged XRP product continues to grow strongly, reaching $160 million in assets under management, indicating that demand for XRP remains very stable despite transaction costs being higher than average.
Analysts at JPMorgan are also not overlooking the potential of spot XRP ETFs. They predict that when these products launch, they could attract billions of dollars in new capital, further increasing expectations for the future of XRP on major financial exchanges.
The growing interest from major financial institutions, along with product development moves for ETFs, is increasing XRP's attractiveness to investors, making this currency a hot topic in the crypto community.
The growth of wallets highlights the increasing interest.
The increase in the number of XRP wallets highlights an important trend: growing interest from the community and long-term investors. XRP's trading volume has reached $9.04 billion, a strong increase of 80.75% from before, indicating that this currency is attracting significant attention in the market.
Although there has been a slight decrease in active usage, the overall trend still indicates a market shift, as many long-term investors are beginning to engage with XRP. This not only reflects the stability of this currency but also signals an increase in acceptance from the community.
As of now, XRP has a circulating supply of 59.06 billion units, while its total supply is 99.98 billion. With these parameters, this currency is still in a robust development phase, and the increase in wallet numbers indicates the trend of long-term investors is becoming increasingly evident.
When combined with factors such as technical analysis from Peter Brandt and speculation about ETFs, this increase raises more questions and expectations about XRP's next move in the market. These factors are painting a comprehensive picture of a market that is developing strongly, with the potential to expand beyond conventional trading.
Brandt's post, along with the continuous growth of wallets and lively discussions around ETFs, is creating an atmosphere of high expectations for XRP, leading many investors and market analysts to believe that this currency could continue to prove its strength in the future.