The XRP price surge captures market attention as the cryptocurrency breaks past $1, reaching $1.265 in November 2024. A dramatic shift in XRP gains in the 2024 outlook emerges as trader Peter Brandt spots a “massive coil” pattern, signaling strong Ripple XRP potential for an upward move. Ripple’s coin price surge underscores the cryptocurrency’s technical structure, which points to increased market adoption.
Ready to RIP $XRPUSD
Massive coil
2023 high now cleared
If 2021 high is cleared, then 🎑🚀🚀🚀🚀🚀 pic.twitter.com/bNKgJMC302— Peter Brandt (@PeterLBrandt) November 18, 2024
Also Read: Michael Saylor’s Bitcoin Pitch: Will Microsoft Lead the Next Crypto Boom?
How XRP is Navigating Market Volatility and Building Momentum for 2024 and 2025
Technical Pattern Signals Breakout
A large triangle pattern called the “massive coil” by Brandt now shows upward movement. This pattern formed since XRP’s 2018 peak of $3.31. It shows less price swings and more buying interest. The 8-week price average at $0.6775 helps support the price. Higher trading volumes back up this upward move. The Ripple’s coin price surge indicates that the price now stays above the 2023 high of $0.93.
Critical Market Sentiment Shift
I am NOT long XRP and have no plans to buy XRP. I own $BTC and $SOL and the @ChartWizardsNFT only
— Peter Brandt (@PeterLBrandt) November 18, 2024
Brandt’s technical reading matters more because he used to doubt XRP. He owns no XRP himself but sees strong chart patterns. His many years of market experience helped him spot key price triggers that could push Ripple’s coin higher. The recent XRP price surge has influenced the sentiment shift.
Also Read: Can Dogecoin (DOGE) Hit $1 Under Trump Musk Leadership?
Volume Analysis and Market Structure
Trading activity increases during key price moves. Two key measures (ATR and ADX) show calmer price action, which often comes before big moves. Ripple’s coin market adoption grows as big investors show more interest. The recent Ripple’s coin price surge has sparked renewed interest among large investors.
Key Price Targets and Resistance Levels
All eyes watch the $1.96 level from April 2021. Brandt hints at a fast upward move if Ripple’s coin passes this mark. Steady price above $1 builds a strong base. Market data shows fewer sellers at current levels. The XRP price surge has made these targets more attainable.
Technical Confluence Points
Several chart signals support higher prices. The break above the triangle pattern joins with higher trading volumes. Price holds its gains while showing fewer wild swings. These patterns often lead to bigger price moves in crypto markets.
Also Read: Ripple: When Will $1000 Worth of XRP Become $500,000?
Credit: Source link