Experienced analyst Peter Brandt, who has been in the market for a long time and is closely followed with his successful analyses, shared his latest analysis for Ripple (XRP).
Sharing from his X account, Brandt pointed out the upward trend of XRP and stated that a breakout in price was approaching.
Brandt also shared possible targets for XRP, saying that XRP has a flag pattern on its chart and that it looks ready to break out, stating that it cannot be explained in any other way than bullish.
The analyst, who set possible price targets for XRP as $3.5487 and $4.3954, stated that he wanted to take a long position in XRP.
“To be clear: I don't care what happens to XRP.
If it goes up I want to go long. If it goes down I have never opened a short position but I prefer to troll poppers.
“If we were to describe the chart right now, it would be nothing more than a bull flag. Of course, that could change.”
Expect More XRP ETFs!
While Brandt stated that he expects an uptrend for XRP, XRP ETF applications also increase the bullish expectations.
At this point, yesterday Grayscale, in collaboration with the NYSE, filed with the SEC to convert its XRP Trust into a spot XRP ETF.
This filing has the XRP community excited, with FOX reporter Eleanor Terrett saying that more XRP ETF filings could emerge as early as next week.
“Expect more filing activity from issuers filing for XRP ETFs next week,” Terrett X wrote in a post.
*This is not investment advice.
