Selling pressure on exchanges has remained low, signaling the expectation of a rally. Market cap could explode to $500B, translating to a potential 262% growth. The token’s value would suggest a potential upswing to $8.7 based on the current price of $2.4. Brandt’s prediction was based on a bullish flag pattern. He said, “Half mast flags should complete within six weeks, otherwise they should be viewed with great suspicion. But if it completes, then market cap of $500 B is possible.
” For the unfamiliar, the flag pattern breakout always corresponds with a rally similar to the length of the flagpole. That target would be the $500B in market cap. Most XRP holders seem strongly convinced of an additional rally, based on the low selling pressure on centralized exchanges. According to CryptoQuant, exchange inflows, which track the amount of XRP sent to exchanges to be sold, have remained flat since the massive rally in November. This suggests that more users opted to hold their tokens rather than sell them, which could be positive for the altcoin in the short term. AMBCrypto checked the top exchanges with the highest reserves to understand the extent of the selling pressure in XRP markets. Korean-based Upbit had the largest reserves at 6 billion XRP tokens, followed by Binance at 2.9 billion tokens. Interestingly, XRP reserves on Upbit have dropped to a seven-month low of 6 billion tokens, indicating that users withdrew their tokens from the exchange for self-custody. This implies they expect a potential price run for the altcoin in the medium term. The third-largest digital asset by market cap could trigger a surprise rally. In fact, should Brandt’s projection of $500B market cap play out, XRP could. Some primary catalysts could be XRP ETF expectations and the next phase of the altcoin season in 2025. The immediate bullish target for XRP could be $3.4, representing a 52% potential gain if the altcoin breaks above its triangle pattern.