Veteran market analyst Peter Brandt presents a gloomy year-end outlook for XRP, suggesting that despite recent gains, the asset may struggle to maintain momentum.
On April 18th, Brandt shared an updated analysis on X (formerly Twitter), presenting two scenarios for XRP's year-end market capitalization.
Caution Needed for XRP Despite Recent Surge
The first scenario sets XRP's market capitalization at approximately $11.67 billion, while the second presents a more bearish outlook slightly over $60 billion.
Essentially, both figures indicate a decline from the current market capitalization of around $121 billion, where XRP is currently valued at about $2.09 per token.
Brandt's analysis is based on technical patterns he previously identified on XRP's price chart.
According to him, this formation is similar to a classic head and shoulders pattern, which often signals a trend reversal. If this pattern materializes, XRP could drop to $1.07.
He added that a move below $1.90 is likely to confirm the pattern and trigger a sharp correction of over 50%. However, a breakthrough above $3 could invalidate the bearish outlook.
"XRP is forming a textbook head and shoulders pattern. So we are currently within this range. We don't want to be short above 3.000. We don't want to own it below 1.9," Brandt explained.
This cautious outlook follows XRP's price surge after 2024.
After Donald Trump's return to the White House, the token surged over 300%, reaching a peak of $3.28 before retreating to current levels.
This price performance led many investors to believe that a Trump administration's favorable stance on digital assets could help sustain the asset's rally.
One key catalyst was the SEC's decision to withdraw lawsuits against several cryptocurrency companies, including Ripple.
This change reduced regulatory uncertainty and sparked new interest in XRP, leading to the launch of product-focused ETFs.
Adding momentum, Ripple aims to target a growing segment of the digital asset market by launching its own stablecoin RLUSD.
Nevertheless, Brandt's warning suggests that XRP's recent rally may not be sustainable if bearish pressure intensifies.
Ripple "Not in a Hurry" for IPO
Amid renewed interest in XRP's performance, Ripple CEO Brad Garlinghouse addressed increasing speculation about the company's potential listing.
In a recently shared video on X, Garlinghouse clearly stated that Ripple has no plans to file for an IPO in 2025.
He emphasized that the company is not actively seeking external funding and is financially stable, prioritizing product development and business expansion.
"Are we going to do an IPO in 2025? I don't think that's a definitive no... We've said we don't have plans to go public," Garlinghouse said.
While the company won't proceed with an IPO this year, Garlinghouse hasn't completely closed the door.
He mentioned that Ripple is evaluating whether going public would benefit the business long-term. However, such a move is not currently a priority.
"We need to ask ourselves how becoming a public company would benefit Ripple, and whether that's a high priority for us," he said.
Moreover, Garlinghouse hinted that the regulatory environment, especially under the SEC's new leadership, could influence Ripple's future decisions.
His statements came alongside reports that several cryptocurrency companies, including Kraken and Circle, are preparing for IPOs. However, for now, Ripple seems comfortable remaining private until conditions become more favorable.
