A closely-followed trader who accurately called the timing of Bitcoin’s collapse in January 2018 says the price of XRP is about to hit the stratosphere.
In a new tweet, Peter Brandt tells his 459,600 followers that XRP just broke out of a massive bullish pattern after three years of consolidation.
“In case you trade this, (I don’t) [XRP} is enjoying SEC (U.S. Securities and Exchange) ruling and the madness of crowds. Weekly chart head and shoulder patterns are too often not to [be] believed. But sometimes they come true. This possible inverted head and shoulders with stunted right shoulder would indicate prices a boatload higher (new all-time highs). XRP.”
If XRP is to follow Brandt’s script, it can potentially surge by a minimum of 276% from its current value of $1.02 en route to its all-time high of $3.84. The price of Ripple’s native asset could go a lot higher as Brandt is predicting a new all-time high for XRP.
The veteran trader’s tweet about the fourth-largest cryptocurrency’s bullish breakout comes just days after he highlighted that the XRP/BTC pair is flashing a strong buy signal.
“This is called a compound fulcrum and can be a quite powerful buy signal. XRP/BTC.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/fanjianhua
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