Key Takeaways

• A veteran trader anticipates a potential 60% price surge to $4.47 based on a rare technical formation.
• XRP’s strongest weekly performance since November, coupled with record whale accumulation, signals increasing institutional confidence.
• On-chain data now reflects a “belief-deny” sentiment phase, potentially supporting sustained bullish price action.

Breakout Foreseen on XRP/USDT Weekly Chart

In his latest analysis, veteran chartist Peter Brandt highlights a forming “compound fulcrum” on the XRP/USDT weekly chart, suggesting a strong upward momentum if the market breaks above support around $1.80.

According to Brandt, this complex base formation, comprising multiple smaller patterns including failed attempts at breakdown, could resolve by pushing XRP toward $4.47—a roughly 60% increase.

Brandt explains that the compound fulcrum typically forms through a series of failed impulsive moves, which serve to flush out weaker holders while attracting stronger accumulation. A successful breakout from the current consolidation range could validate the bullish case.

Market Strength and Whale Concentration Fuel XRP Surge

XRP has significantly strengthened, posting its largest weekly gain since late November as part of a broader crypto rally. The price increased approximately 25% in the week ending July 13.

Institutional confidence is further reinforced by record levels of accumulation by large holders, as evidenced by the highest number of wallets holding at least 1 million XRP on record. This suggests significant concentration of capital from sophisticated investors.

Additional tailwinds include “altcoin season” market conditions, with Santiment noting that Bitcoin’s stability above $110k encourages profit redistribution into altcoins.

On-Chain Indicators Signal Strengthening Market Sentiment

XRP sentiment, as measured by Glassnode’s Net Unrealized Profit-Loss (NUPL) metric, has shifted out of the “optimism-anxiety” phase and into “belief-denial.” Historically, a similar phase change preceding major tops occurred in 2021 and late 2020 before significant corrections.

Notably, the current indication does not show signs of capitulation or widespread panic selling, suggesting a more sustainable buying interest compared to previous market tops.

This evolving sentiment appears to be aligned with Brandt’s technical thesis, potentially supporting a strong foundation for a sustained price increase toward his $4.47 target.