- Peter Brandt predicted that XRP’s market cap could rise to $500 billion.
- Selling pressure on the stock markets has remained low, pointing to expectations of a rally.
Veteran price chart analyst and trader Peter Brandt has predicted that Ripple [XRP] the market cap could explode to $500 billion, translating into a potential growth of 262%.
The value of the token would suggest a potential increase to $8.7, based on the current price of $2.4. Brandt’s prediction was based on a bullish flag pattern. He said,
“Half-mast flags must be ready within six weeks, otherwise they should be viewed with great suspicion. But when completed, a market cap of $500 billion is possible.”
Source:
For the unfamiliar, the breakout of the flag pattern always corresponds to a rally comparable to the length of the flagpole. That goal would be a market cap of $500 billion.
Users hold their XRP tokens
Most XRP holders seem strongly convinced of an additional rally, based on low selling pressure on centralized exchanges.
According to CryptoQuant, exchange inflows, which track the amount of XRP sent to exchanges to be sold, have remained flat since November’s massive rally.
Source: CryptoQuant
This suggests that more users were choosing to hold their tokens rather than sell them, which could be positive for the altcoin in the short term.
AMBCrypto checked the top exchanges with the highest reserves to understand the extent of selling pressure on XRP markets. Korea-based Upbit had the largest reserves with 6 billion XRP tokens, followed by Binance with 2.9 billion tokens.
Interestingly, XRP reserves on Upbit have fallen to a seven-month low of 6 billion tokens, indicating that users have withdrawn their tokens from the exchange for self-custody. This implies that they expect a potential price increase for the altcoin in the medium term.
Source: XRP Reserve on Upbit, CryptoQuant
The third-largest digital asset by market capitalization could stage a surprise rally. In fact, should Brandt’s market cap of $500 billion materialize, XRP could do just that flip Ethereum [ETH].
Some primary catalysts could be the XRP ETF expectations and the next phase of the altcoin season in 2025.
Read Ripple [XRP] Price prediction 2025-2026
The immediate bullish target for XRP could be $3.4, which represents a potential gain of 52% if the altcoin breaks above its triangle pattern.
Conversely, a bearish breakout would negate this outlook and drag the price towards $1.1.
Source: XRP/USDT, TradingView