Saad Ullah
XRP just carved out an ultra-rare technical pattern that could send the crypto soaring to $4.40, according to legendary trader Peter Brandt.
XRP Price Rallies 25% on Rare Technical Setup
XRP has formed what Peter Brandt calls a "dramatic and highly rare continuation compound fulcrum" - a technical pattern that doesn't show up often, but when it does, it usually means big moves ahead. This setup emerged after April's fake breakout, turning what looked like bad news into potentially explosive bullish action.
The compound fulcrum is special because it almost always marks a bottom. It happens when a market creates a complex Head & Shoulders pattern after a long decline. Brandt says as long as XRP stays above this week's low, his bullish call remains in play.
"Unless XRP closes back below this week's low my interpretation will remain that this pattern is best described as a compound fulcrum until proven differently," Brandt tweeted.
XRP Price Target: $4.40 Means 58% Upside
The pattern points to a $4.40 target - that's about 58% higher than current levels. It would be a massive breakout for XRP and mark a serious recovery from previous lows.
Brandt doubled down on his bullish outlook yesterday, tweeting: "Everything I've come to know about charts informs me that the next trend in this mystery market will be Up Up Up."
This kind of gain would put XRP back in the spotlight and could trigger serious FOMO from traders who missed the initial move.
XRP Chart Flips From Bearish to Bullish
Here's the interesting part - Brandt was actually bearish on XRP before this pattern showed up. But charts change, and smart traders adapt with them.
"Charts are always morphing—they might morph from a possible chart formation with one implied outcome into another chart pattern with different implications," Brandt explained.
Back in April, XRP looked like it was forming a bearish Head & Shoulders pattern. That setup failed fast, which actually turned out to be more bullish than if it had worked. "There is actually more meaning in a failed pattern than in a completed pattern. XRP actually had a completed intraday H&S top in early April. This action was quickly negated," Brandt said.
The failed bearish pattern clearing the way for this rare bullish setup could be exactly what XRP needed to break out of its recent range. With the compound fulcrum now in play, all eyes are on whether XRP can hold above key support levels and make the run toward $4.40.
Saad Ullah
