XRP Soars 18% to $3.65: Is Altcoin Season Finally Here?
Peter Brandt Highlights Bullish Cup and Handle Pattern for XRP and Altcoins
Peter Brandt’s Analysis Sparks XRP Community Excitement
Renowned trader Peter Brandt has recently unveiled a chart showcasing a classic cup and handle formation within the total altcoin market cap. This revelation has ignited enthusiasm among XRP supporters, particularly after being shared by influential XRP figure JackTheRippler. Many in the XRP community view this as a significant endorsement of their long-standing beliefs regarding an impending altcoin season.
Shift in Brandt’s Perspective on XRP
Historically, Brandt has maintained a cautious stance towards XRP. However, his outlook shifted in late 2024, leading him to believe that XRP and other altcoins are on the verge of a major breakout. His latest chart illustrates a textbook cup and handle pattern, which is typically interpreted as a bullish continuation signal following a period of consolidation. This pattern has developed over several years, encompassing the market’s retracement in late 2021, a gradual accumulation phase, and a smaller corrective handle that began in early 2025, culminating in the recent market resurgence.
Recent Price Movements Align with Technical Indicators
Recent trading activity aligns with Brandt’s technical analysis. XRP reached a peak of $3.65 on July 18, establishing a new all-time high for the cryptocurrency. This surge followed a breakout from the $3 level, which was succeeded by a brief retest before a robust upward movement. The swift rise has created a renewed sense of urgency in the market, with buyers eager to capitalize on the anticipated broader altcoin rally. Although XRP has slightly retraced to $3.42, Brandt’s insights indicate that the market is just entering the altcoin season, with many investors holding optimistic views on XRP and other altcoins. Analysts have also identified a similar cup and handle pattern on XRP’s chart, suggesting that the current rally may still have room to grow.
Community Enthusiasm and Investment Strategies
The XRP community has responded with enthusiasm to Brandt’s apparent support for an altcoin season. Some community members have recommended dollar-cost averaging as a prudent investment strategy during this period. Others have expressed their excitement about XRP’s future potential, with expectations of further growth fueled by increasing utility. XRP’s ability to withstand regulatory challenges, combined with its improving technical indicators, positions it favorably among its competitors. The palpable excitement within the community indicates that bullish sentiment is strong, with many ready to champion XRP as a leader in the upcoming 2025 altcoin season.
