Peter Brandt, a famous trader with more than 50 years of experience in the financial markets, recently released a new forecast on the price chart of famous currencies. Cryptocurrency XRP. Thus, in his latest post on X, Brandt highlighted the flag pattern that is forming on the XRP chart at the moment.

Flag patterns are continuation indicators that indicate a brief pause in an asset's price movement before the previous trend resumes. In the case of XRP, the previous trend was bullish, so the flag pattern there has a bullish theme.

From a trader's perspective, the cryptocurrency has six weeks to complete the pattern in an upward manner, otherwise it may be invalidated. Brandt says this science in XRP needs to swing soon. If not, it will most likely turn into something else, and most likely, as gleaned from the trader's rhetoric, it will not be as clearly bullish as the current pattern.

if XRP On the cusp of completing a flag and breakout pattern, the current third-largest cryptocurrency may see its price rise to the point that the total market capitalization of the token will reach a staggering valuation of half a trillion dollars.

Given that the total estimate of all XRP in circulation currently stands at $139.72 billion, completion of the bull flag pattern could mean another 357.9% rally. In this case, XRP price It will reach around $8.7, which is more than double its all-time high right now.

Whether all of this is possible for XRP remains an open question, but one thing is certain, the once-reviled currency is back in the spotlight of the cryptocurrency market once again.