Peter Brandt: XRP Predicted to Hit $4.6 - Is the Half-Mast Flag Pattern Promising

Peter Brandt, a veteran trader and well-known XRP critic, has now offered a positive outlook. He predicts XRP's price could soar to $4.6, based on the half-mast flag pattern visible on the daily chart. Is this a bullish signal or just temporary hype? Let’s dive deeper.
Peter Brandt, once a staunch XRP skeptic, has recently changed his stance. According to his analysis, a half-mast flag pattern has formed on XRP’s daily chart. This pattern emerged after a significant rally in late November.
The rally began on November 23, when XRP was trading at $1.5. Over the next six days, its price skyrocketed to $2.9 on December 3, marking its highest level in seven years. This sharp increase formed the flagpole in the pattern.
Following the rally, XRP entered a consolidation phase, forming a descending channel (the flag), which is seen as a resting phase in a bullish trend. On December 14, XRP broke out of the upper boundary of the flag around $2.4, signaling a continuation of the upward trend.
Brandt explained that the flagpole’s length-from $1.5 to $2.9, a 93% increase-serves as the basis for his next target. If the pattern holds, XRP could reach $4.6 from the breakout point at $2.4.
However, XRP must meet certain conditions to hit the $4.6 target. Maintaining its breakout above $2.4 is critical. This level, previously a resistance zone, has now become a key support level. If XRP successfully retests this support without falling back into the flag pattern, the bullish trend could gain more momentum.
The next target lies at $2.9, the previous high from November’s rally. If XRP breaks through this resistance, the path to $4.6 becomes much clearer. On the other hand, if the price falls back below $2.4, the half-mast flag pattern could fail, delaying further gains.
Apart from Peter Brandt, other analysts are also optimistic about XRP. Crypto Insigh tUK predicts XRP could hit $5 by Christmas, while analyst Ali Martinez suggests a rise to $4 is almost certain.
Interestingly, this optimism aligns with the launch of Ripple’s stablecoin, RL USD, which has added further momentum to XRP.
The half-mast flag pattern identified by Peter Brandt brings new hope for XRP investors. With an ambitious target of $4.6, this could be a major opportunity. However, it’s crucial to monitor key levels like $2.4 and $2.9, which will determine whether the pattern is fully confirmed.
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