XRP Poised for $4.40 Breakout, Says Veteran Trader Peter Brandt

XRP could be on the verge of a major price breakout, according to renowned trader Peter Brandt. In a recent tweet, Brandt highlighted a rare and bullish chart formation called a “compound fulcrum,” projecting a potential XRP price surge to $4.40. He emphasized that unless XRP closes below this week's low, the pattern remains valid and supports a bullish outlook.

The compound fulcrum is an extremely rare continuation pattern that typically signals a market bottom. It forms when a market creates a complex Head & Shoulders top after a long downtrend—followed by a reversal. Brandt stated this unique formation often precedes strong rallies, adding, “Everything I’ve come to know about charts informs me that the next trend in this mystery market will be Up Up Up.”

This prediction marks a significant shift from Brandt’s earlier bearish stance. He acknowledged that chart patterns can evolve, noting that XRP’s false breakout in April had initially suggested a bearish setup, which was quickly invalidated. “Charts are always morphing—they might morph from one implied outcome into another,” Brandt explained.

On July 12, XRP neared the $3 mark again, with over 6,900 new XRP wallet addresses created in a single day, signaling growing interest. A 58% increase from current levels would push XRP to the $4.40 target, making this a critical moment for traders and investors.

With renewed optimism from a veteran chartist and a strong technical setup, XRP's momentum is building. If the current trend holds, a major breakout could soon be in play.