XRP Critic Peter Brandt Predicts XRP to $4.6, Citing Half-Mast Flag Pattern

Veteran trader and XRP critic Peter Brandt is expecting an XRP upsurge to a new all-time high, citing a half-mast flag pattern on the daily charts.

Peter Brandt, a long-time XRP critic, is now bullish. Following XRP’s strong rally in November, Brandt suggests the asset is forming a half-mast flag pattern. This continuation structure points to a potential price surge, with Brandt forecasting a move toward $4.6.  

XRP Forms a Half-Mast Flag Pattern

In his recent analysis, Brandt discussed the half-mast flag structure on XRP’s daily chart. Notably, this pattern occurred during XRP’s strong uptrend from late November.

Particularly, following a six-day consolidation that began on Nov. 23, XRP eventually staged a breakout on Nov. 27, rallying from the $1.5 level to a new seven-year peak of $2.9 by Dec. 3. This impressive upsurge created the flagpole. 

Following this move, XRP entered a brief consolidation phase in December as it faced resistance at the $2.9 level. Price action formed a descending channel, which featured lower highs and lower lows and formed the flag. Notably, this flag represents a period where traders pause to assess the market direction.  

Interestingly, XRP broke out above the upper boundary of the flag on Dec. 14 after it closed the day around the $2.4 level. This breakout signals the potential continuation of the original uptrend. Since then, the asset has stayed above the boundary, looking to establish it as support.

According to Brandt, the half-mast flag pattern predicts that the next upward move will mirror the height of the flagpole. Notably, the flagpole height, measured from the rally’s starting point at $1.50 to its peak of $2.9 represents a 93% upsurge.

This rate becomes the basis for XRP’s next move. For context, XRP’s breakout occurred around the $2.4 region on Dec. 14. If the altcoin replicates the 93% rally from the $2.4 level, this will lead to a price of $4.63 for XRP, marking a new all-time high.  

What’s Next for XRP?

However, for XRP to achieve this bullish target, it must maintain the breakout above $2.4. This level, which previously acted as resistance, now serves as a major support zone. A retest of this level without falling back inside the flag would confirm the breakout’s strength.  

If momentum continues, XRP’s next resistance lies around $2.9, the previous high from the November rally. Clearing this level would open the door for a surge to $4.63. However, a failed breakout, where XRP drops back below $2.4, could invalidate the flag pattern and delay further upside.  

Interestingly, another analyst CryptoInsightUK recently suggested that XRP could trade at $5 by Christmas day. Analyst Ali Martinez also insists a rally above $4 is a certainty. XRP currently changes hands at $2.66, up 11.59% in the past 24 hours amid the launch of Ripple’s stablecoin RLUSD.