Crucial week for XRP just as Peter Brandt turns bullish on this crypto

Normally the larger altcoins (the top 20 on CoinMarketCap, except for the stablecoins of course) copy Bitcoin’s movement. When the largest digital coin falls, they fall a little faster. When Bitcoin rises, some major altcoins move higher just a little faster. This week (and most of the past few weeks) it was noticeable that XRP does not follow that movement but is on an upwards path. That’s because Ripple Labs’ coin is facing a crucial week and the technical setup, if Wall Street veteran Peter Brandt is to be believed, is looking very bullish.

SEC

Gary Gensler, the boss of the American stock market watchdog SEC, announced back in November just after Donald Trump’s victory in the Presidential Election that he would resign before the new American administration starts, in other words before January 20, 2025. As Trump had promised to fire Gensler, the latter chose not to wait.

This was especially good news for XRP, the coin of California-based company Ripple Labs. Ripple was one of the first major crypto companies to be sued by Gensler, back in 2020. As a result, XRP, which was the third largest cryptocurrency in terms of market capitalization back in 2020, missed out on the bull run of 2020 and 2021.

But Gensler’s impending departure has investors convinced that the SEC will drop the case against XRP. We’ll probably find out this week. Gensler and his lawyers have until January 15 to file their appeal papers and arguments in the SEC against Ripple Lab’s lawsuit. Analysts believe XRP could go to $3 if it becomes clear on January 15 that the SEC intends to drop the case.

Brandt

Wall Street veteran Peter Brandt also admits that, of all the major crypto coins, XRP currently looks the best. While he was the one who advised crypto investors to get out of XRP back in 2020, Brandt now admits that the technical picture has completely changed.

And I thought Silver fanatricks were the rudest of the rude. Silver fanatricks have nothing on XRPricks https://t.co/MOkc0nJM6W

— Peter Brandt (@PeterLBrandt) January 12, 2025

Members of the XRP army (the fanbase on social media of Ripple Labs) have clearly not forgotten his past and blasted Brandt in the comments. After Brandt presented his new analysis and admitted he had changed his mind, he reminded everyone that as far as he’s concerned, XRP fans are just ‘XRPricks’.

Could be a fun future read if XRP does indeed continue to march higher.