XRP on Thin Ice? Expert Predicts Major Drop While Backing Gold

Peter Brandt, a seasoned voice in global markets, has once again rattled the crypto crowd—this time with a downbeat projection for XRP.

Technical analyst Peter Brandt has shared his market predictions for the coming months, and they include a significant price drop for XRP.

The crypto market has seen a shift in recent days, with Bitcoin struggling to maintain momentum above the $70,000 mark and major altcoins like Ethereum and XRP showing limited activity. This has led to speculation that the market may be entering a period of consolidation.

However, some analysts remain bullish on Bitcoin and predict that the asset could reach new all-time highs in the coming year.

Brandt is also bullish on gold, which he predicts could rise to $3,500 by the end of 2025. The analyst believes that gold offers the kind of stability that investors may soon seek as the market becomes more volatile.

In his latest analysis, Brandt has grouped XRP with Bitcoin and the Japanese yen as assets that he believes will underperform in the coming months. He predicts that XRP could slip to $1 by early 2025.

If that scenario plays out, XRP’s total market cap would shrink dramatically, dropping from over $120 billion to around $60 billion.

Currently, the token is treading water near $2.08, showing little movement and even less conviction from traders. Volume has slumped, and activity in XRP futures contracts is also flat—indicators of a cautious, if not disengaged, market.

While July has historically been a solid month for altcoins, and some are betting on another seasonal surge, Brandt remains unconvinced.

His broader market predictions include a Bitcoin price target of $84,000 by year-end 2024 and a belief that the U.S. will issue $31 trillion in bonds by 2028.