Ripple (XRP) Price Forecast: Peter Brandt predicts $2 breakout as whales invest $1.5B after Trump re-election

Ripple (XRP) price analysis:

XRP price continues a 4-day consolidation above $1.10 on November 20, after improved regulatory sentiment sparked a blistering 155% rally to new 3-year peak of $1.30, within two weeks of Donald Trump’s re-election.

With on-chain transaction showing aggressive buying pressure from large investors, prominent analyst, Peter Brandt has predicted another major XRP price breakout ahead.

XRP price finds support at $1.10 after 155% rally 

In the second week of November, XRP price emerged the best performer among the top 10 ranked crypto assets. The XRP rally was linked to bullish tailwinds from Trump’s win, Gary Gensler’s imminent exit, and re-listing on major US-based exchanges, including Coinbase and Robinhood.

Between November 5 and November 14, XRP price rose by a staggering 155%, outperforming mega-cap crypto assets including Bitcoin, Ethereum, Solana. However, while many fear a sharp correction, XRP price has maintained a relatively high support levels, amid the ensuing consolidation phase.

At the time of writing on November 20, XRP price is holding firmly above the $1.10 level, reflecting less than 11% correction.

Whale investors have bought 1.2 billion XRP since Trump’s re-election

When an asset holds relatively high support levels amid a triple-digit monthly timeframe gains, its often signals the rally is being driven more by organic spot purchases, from potential long-term investors, than FOMO from speculative traders.

On-chain transaction flows observed on the XRP ledger network, shows unusually aggressive buying pressure from whale investors since Trump’s win at the November 5 polls.

Validating this narrative, the Santiment chart below tracks current balances of XRP wallets holding at least 1 million XRP (~$1.2 million). This serves as a proxy for monitoring whales’ trading activity around key market events.

The whales held a total of 18.4 billion XRP at of the November 5. As the election results confirmed a landslide victory for Trump, the whales instantly began to buy up XRP coins in large volumes.

At press time on November 20, the whales balances has now skyrocketed to 19.62 billion. This implies that within the last 14-days, XRP whales have effectively added 1.42 billion XRP, worth approximately $1.5 billion when valued at the current prices.

Evidently, the $1.5 billion inflows from large investors has been pivotal role in XRP’s 150% breakout in November. As XRP price consolidates for another breakout attempt, the whale accumulation strengthens bullish prospects for two reasons.

Firstly, whales typically have a long-term investment horizon, implying they are likely to hold their coins longer, amid the anticipated positive shift in regulatory sentiment across the US.

Secondly, large inflows from whales often reinforces confidence among retail investors, and prospective new entrant. These dynamics could potentially intensify buying pressure within XRP markets in the coming days.

XRP price forecast: Peter Brandt hints $2 breakout

With whale’s $1.5 billion inflows dictating the pace, XRP appears well-positioned to maintain its bullish trajectory, especially if macroeconomic or regulatory sentiment remain positive ahead.  of Trump’s.

In further affirmation of this stance, prominent Crypto analyst Peter Brandt has hinted that XRP price is now likely to advance further towards $2, having cleared 2023 and 2021 peaks within a week.

Ready to RIP $XRPUSD, Massive coil, 2023 high now cleared
If 2021 high is cleared, then…

• Peter Brandt, November 18, 2024.

Brandt’ XRP’s price analysis chart showcases a significant bullish breakout pattern. The chart reveals a symmetrical triangle formation that XRP has been consolidating within for years. On November 18, XRP moved above $1.15 the descending trend line resistance, a strong indication of bullish momentum.

With the bullish momentum strengthening, If XRP maintains its position above $1.10—the current psychological support level—it could signal a sustained upward trend.

In terms of short-term projection, the next key resistance lies at $1.50, which aligns with the dotted blue horizontal line marking previous highs. A sustained break above this level could pave the way for a rally toward $2, a psychological and technical milestone.

Additionally, the Average Directional Index (ADX) at 18.07, and Average True Range (ATR) of 0.1030 highlights increasing price volatility, suggesting that traders can anticipate more volatile price swings in the coming days.

On the downside, $1 milestone acts as a crucial psychological support level.  A breakdown below this level would invalidate the breakout and heighten risks of a retracement toward the 20-day SMA at $0.67.

However, with current market conditions favoring bulls and whales accumulating XRP, the odds of further gains remain high. If the momentum continues, the $2 mark could soon become a reality, confirming XRP’s breakout from its multi-year consolidation phase.