Experienced trader Peter Brandt has subscriber Two charts indicating the next possible movement of XRP price.

In his recent post on X, Brandt shared a weekly chart showing a rising wedge pattern.

If validated, the model will show price growth through 2025.

However, the daily chart indicates a correction from the local high of $2,728,000.

Earlier, Peter Brandt chirp It appears that the XRP/USD pair is currently forming a half-mast flag.

If this pattern is completed, Brandt suggests that “the distance to the upside should equal the advance toward the tip of the flag,” consistent with how this technical formation typically appears. While this pattern often indicates a significant price move after a decline, it does not always guarantee upward momentum.

Is the 2024 XRP price rally over?

XRP saw a significant rise in December, reaching a peak of $2.72 on December 3. However, the price has since declined steadily, with volatility increasing during the holiday season. The short rally came after the launch of Ripple's RLUSD stablecoin but was not enough to revive XRP's upward trajectory.

Currently, XRP is still 36.3% below its all-time high from early 2018, and was unable to set a new record in December despite previous momentum.

Currently, the price of XRP is still old, sitting at the $2.1 level.

The market capitalization reached $124.14 billion, reflecting an increase of 1.79%, while the 24-hour trading volume reached $4.02 billion, an increase of 27.92%. This results in a volume to market capitalization ratio of 3.26%, indicating stable liquidity.

The fully diluted valuation (FDV) rose to $216.24 billion, boosting confidence in XRP's long-term potential. These numbers highlight the resilience of the cryptocurrency and its continued appeal among investors.