XRP Ripple

Why this analyst thinks Ripple’s (XRP) price could soar more than 60%

By CCN Markets: On June 6, author and chartist Peter Brandt (@PeterLBrandt) took to Twitter to share his bullish view on Ripple’s price action. In his tweet, he mentioned two cryptocurrencies flashing bullish signals against Tether US (USDT): Litecoin and Ripple. While he did not specify the targets for Litecoin, he emphasized two target prices for Ripple, which are 0.5688 and 0.6260.

peter brandt tweet
peter brandt tweet

Trader Peter Brandt sees bullish signals for XRP. | Source: Twitter

Peter Brandt is one of the most respected figures in the crypto community on Twitter. While he runs a paid group on his website, he shares some of his insights with his followers. His account has been active since February 2011 and he has amassed over 281,000 followers.

The Ripple Ultra Bullish Scenario

In trading and investing, there’s a saying that goes, “the longer the base, the higher the space.” This means that the more time an asset spends in accumulation or base building, the higher the bullish price targets. This happens because the smart money who built the base at the bottom would need to exponentially pump prices to ensure that profits are maximized when they begin to distribute or dump positions.

Ripple crypto chart
Ripple breaking out of a descending triangle pattern on the daily chart | Source: TradingView

In Ripple’s case, the accumulation inside the large descending triangle lasted…

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