The XRP community was abuzz on January 30 when esteemed technical analyst, Peter Brandt, alluded to a potential “bull flag” continuation pattern in a daily price chart (XRP/USDT) he posted. The seasoned analyst, known for his decades-long expertise in charting, pointed out that $4.39541 could be the top price objective, according to current market structures.
Brandt made it clear that his interest in XRP was purely analytical, stating, “Hey XRP_pill_poppers. I don’t have a personal stake in what XRP does. If it rises, I want to be long. If it falls, I’ve never shorted it, but rather enjoy observing the reactions. At the moment, the chart can be best described as a bull flag. This, of course, can change.”
Brandt’s analysis showed that XRP had a sharp rally earlier in January, surging above $2.6040 and peaking near $3.2140. Following this peak, the market saw a brief pullback, forming a series of lower highs and lows, as depicted by falling trendlines on Brandt’s chart. This consolidation mimics a classic bull flag, usually seen as a pause in an ongoing uptrend.
According to Brandt, the forecasted breakout could aim for the next significant overhead zone near $3.5487, with his ultimate bullish goal around $4.39541. These levels, illustrated by green lines on the chart, represent potential resistance points if XRP continues its rally after validating the flag’s upper limit.
Brandt’s chart also shows two moving averages: The 8-day moving average (green line) is currently positioned just above $3.00, helping to set short-term support levels. The 18-day moving average (orange line) is trending upwards from below $2.70, emphasizing the overall uptrend in progress.
The ADX reading of 17.05 indicates that the overall trend strength is moderate, allowing room for more momentum if price breaks decisively from the flag. A 30-day Average True Range (ATR) value around 0.2135 highlights the daily volatility, which has increased compared to earlier stages but remains controlled compared to some high-beta altcoins.
Brandt’s post ignited conversation among traders, including HTL-NL (@htltimor), who noted bullish confirmations using Wyckoff analysis. Brandt responded positively, stating, “Good confirmation from a good source.”
HTL-NL’s Wyckoff-based chart suggests that XRP has been following a series of classical stages—Beginning with the Automatic Rally (AR) after a Selling Climax (SC), succeeded by multiple Secondary Tests (ST), and culminating in what seems to be a Sign of Strength (SoS). The SoS label often signals the point where demand decisively surpasses supply, with price pushing above a crucial resistance level and maintaining support above previously tested zones. This behavior is further bolstered by volume signatures that display resurging interest during rallies and diminishing on pullbacks.
In Wyckoff terms, a successful SoS within a re-accumulation structure typically paves the way for continued upside. The blue line labeled “BUEC” (Back Up to Edge of the Creek) suggests XRP has already retested its last major resistance as support. If it maintains these levels and confirms the SoS, Wyckoff analysts would anticipate a drive toward higher targets, aligning with Brandt’s bullish flag projection.
At the time of writing, XRP was trading at $3.09.
