A Ripple lawyer bets 80% of his fortune on buying XRP, predicting the price could reach 30 dollars.

Legendary commodities trader Peter Brandt, with 40 years of trading experience, calls the long-term chart of XRP the "purest" classical technical pattern. John E. Deaton, the attorney representing the Ripple lawsuit, revealed that he has invested 80% of his net assets in XRP.

The Perfect Chart in the Eyes of Legendary Traders

(Source: Trading View)

Peter Brandt is well-known in the cryptocurrency community. This commodity trader with over 40 years of experience is famous for his precise technical analysis. This week, he shared a weekly chart of XRP/USD on the social platform X and posed a question that sparked widespread discussion: "As a student studying classical charting principles and history, is there a more pure long-term chart than XRP?"

This chart shows the price trend of XRP over the past decade, with the most notable feature being a series of symmetrical triangle consolidation patterns. In technical analysis, symmetrical triangles are considered a neutral consolidation pattern, representing a state of relative balance between buying and selling forces, with the market awaiting some catalyst to break the deadlock. Once a breakout occurs, prices tend to experience significant volatility, and once the breakout direction is confirmed, it usually leads to substantial gains or losses.

Brandt refers to the XRP chart as "the purest" because it almost textbook-like presents classical technical analysis theories. Since the peak of the bull market in 2017, XRP has experienced a long decline and consolidation, forming one symmetrical triangle after another. This long-term consolidation has accumulated tremendous energy, and once it breaks out, the theoretical price movement will be substantial. For traders who believe in technical analysis, the clarity and duration of this formation are rare.

Ripple lawyer's firm belief

John E. Deaton is as well-known in the cryptocurrency community as Brandt, but his role is entirely different. Deaton is best known as the lawyer representing the interests of tens of thousands of XRP holders during the U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple. He defends the status of XRP on the legal battlefield, arguing that XRP should not be classified as a security, and some victories in this lawsuit have cleared significant obstacles for the future development of XRP.

When Brandt released his technical analysis, Deaton quickly responded and tagged two well-known cryptocurrency analysts, BCBacker and CredibleCrypto, asking for their opinions on Brandt's perspective. This simple act not only demonstrated Deaton's emphasis on technical analysis but also showed his proactive approach in seeking multiple opinions to validate his investment decisions.

Even more shocking is the information revealed by Deaton in subsequent interactions. When users questioned the bullish sentiment of XRP and suggested he "buy more Bitcoin and less XRP," Deaton's response showcased an astonishing level of conviction: "I feel like my 80% net worth isn't enough. I think I will work harder." This statement caused a huge stir in the community. A successful lawyer, after enduring a long legal battle and gaining an in-depth understanding of all the details surrounding Ripple and XRP, chose to bet the vast majority of his wealth on this asset. The power of such conviction is unmatched by any technical analysis.

Bullish Consensus of Professional Analysts

(Source: Trading View)

CredibleCrypto (posted by CrediBULL Crypto account) made a clear response to Deaton's question. This analyst pointed out that XRP remains one of the most bullish high time frame (HTF) charts in the entire cryptocurrency space. High time frame analysis refers to evaluating trends from long-term perspectives such as weekly and monthly charts, which typically filter out short-term noise and capture more macro market trends.

CredibleCrypto's XRP price prediction is even bolder: "I expect to see XRP reach double-digit gains by the end of this cycle." A double-digit price means at least $10, which would be an increase of over 300% from the current price of $2.41. If it reaches a double-digit cap of $99, the increase would exceed 4000%. Although this analyst did not provide specific numbers, the term "double-digit" is enough to excite the market.

Deaton is evidently very satisfied with this response, simply replying: "I'm glad I asked this question!" Behind this relaxed tone, it reveals that his confidence in his investment decisions has been validated by professionals.

Will the history of 2017 repeat itself?

Chart analyst ChartNerdTA has provided a more specific historical comparison framework for XRP price predictions. He conducted a detailed comparison of XRP's current price setup with the astronomical bull market of 2017, discovering an astonishing similarity between the two. In 2017, after years of sideways trading, XRP broke through long-term resistance and climbed close to its historical high of nearly $4. From the low point at that time, the increase was more than several hundred times.

ChartNerdTA uses Fibonacci extension tools for calculations, which is a commonly used price target forecasting method in technical analysis. Fibonacci extension is based on mathematical sequences, predicting potential future price targets based on previous price fluctuations. According to his analysis, if history truly repeats itself, the price target for XRP will fall within the range of 20 to 30 USD. The analyst wrote in the chart: "How can you ignore its similarities with 2017?"

Rising from $2.41 to $20, the increase is about 730%. If it reaches $30, the increase will exceed 1140%. Such a magnitude is not impossible in a bull market, especially for assets that have experienced years of consolidation. The XRP bull market in 2017 is the best example, when many investors lost patience and exited during a long bear market, resulting in missing the subsequent astonishing rise.

The Power of Technical Forms

The breakout after a symmetrical triangle consolidation has a clear price measurement method in technical analysis theory. Typically, the price movement after the breakout is at least equal to the height at the widest part of the triangle. XRP has experienced a consolidation period of up to ten years, and the height of this triangle is quite considerable. If we apply this measurement method and combine it with Fibonacci extension target levels, the price prediction of XRP at 20 to 30 dollars does indeed have its technical analysis basis.

However, technical analysis is not omnipotent. Chart patterns can only tell us the typical behavior of the market in similar situations in the past, but they cannot guarantee that history will repeat itself. The market environment, regulatory landscape, and macroeconomic conditions are constantly changing. The cryptocurrency market size in 2017 was much smaller than it is now, with a higher proportion of retail investors, making market sentiment more easily driven by speculation. The market in 2025 will have more institutional participants and a more完善的 regulatory framework, all of which may affect price trends.

Market Reality and Risk Considerations

Despite the generally bullish outlook from technical analysis and expert opinions, the market is always filled with uncertainty. At the time of writing, the trading price of XRP is around $2.41, having dropped nearly 6% in the past 24 hours. This short-term volatility serves as a reminder to investors that, no matter how perfect the long-term charts may appear, there can still be significant fluctuations in the short term.

Not everyone agrees with Deaton's optimistic stance. User Jaxes questioned the bullish sentiment for XRP in the comments, stating he hopes "John buys more Bitcoin and less XRP," and expressed that he "still doesn’t understand why XRP continues to be hyped after so much has happened with Ripple." This kind of skepticism is not uncommon in the crypto community. Bitcoin's status as digital gold is becoming more solidified, while XRP faces scrutiny from some investors due to its close ties with Ripple, higher degree of centralization, and the ongoing SEC lawsuit.

Deaton's decision to allocate 80% of his net assets into XRP is extremely aggressive from a risk management perspective. Traditional investment theory suggests diversification to avoid concentrating a large portion of assets in a single asset, regardless of how confident one is in that asset. If XRP's price prediction fails, or if it faces unforeseen regulatory strikes, technical vulnerabilities, or other black swan events, such concentrated positions could lead to devastating losses.

However, Deaton's position also has its rationale. As a lawyer deeply involved in the Ripple lawsuit, he has a much deeper understanding of the legal status of XRP, Ripple's business model, and the technological development roadmap than the average investor. His heavy investment decision is not based on blind optimism, but rather on thorough due diligence. Furthermore, the legal profession itself has a higher risk tolerance and income sustainability, which also allows him to adopt more aggressive investment strategies.

From another perspective, Deaton's public statements themselves are a strong market signal. He not only defends XRP on social media but also backs it up with his own wealth. This "skin in the game" makes his views more convincing than those of analysts without holdings. If he truly believes that XRP price predictions will reach double digits or even higher, then the current 80% allocation may indeed seem "not enough" to him.