Veteran market analyst Peter Brandt recently issued a cautious year-end forecast for XRP, indicating that the cryptocurrency might face challenges in sustaining its recent momentum despite the significant gains observed recently. On April 18, Brandt shared his updated assessment on X (formerly known as Twitter), outlining two potential scenarios for XRP’s market capitalization by the end of the year.

The first scenario envisions XRP’s market cap hovering around $116.67 billion, while the second, more pessimistic projection anticipates a value slightly above $60 billion. Both figures suggest a downward trajectory compared to XRP’s current valuation, which stands at approximately $2.09 per token with a total market capitalization of $121 billion.

Brandt’s analysis is rooted in a technical pattern he had earlier identified on XRP’s price chart. He explained that this formation bears resemblance to a classic head-and-shoulders pattern, a configuration typically associated with a trend reversal. Should this pattern materialize, XRP could potentially drop as low as $1.07. He further mentioned that a decline below $1.90 would confirm the pattern and likely trigger a substantial correction exceeding 50%. Conversely, breaking above $3 would invalidate the bearish outlook.

This conservative forecast comes after a notable surge in XRP’s price since late 2024. Following Donald Trump’s return to the White House, the token surged more than 300%, peaking at $3.28 before retreating to its current position. This price movement has led numerous investors to speculate that the Trump administration’s more favorable stance towards digital assets could aid XRP in maintaining its upward trajectory.

A key driver behind this price increase was the Securities and Exchange Commission’s (SEC) decision to dismiss several lawsuits against crypto companies, including Ripple. This regulatory shift reduced uncertainty and rekindled interest in XRP, resulting in the introduction of exchange-traded funds (ETFs) centered on the asset.

Additionally, Ripple introduced its own stablecoin, RLUSD, aiming to capitalize on the burgeoning segment of the digital asset market. Despite these developments, Brandt’s cautionary note implies that XRP’s recent rally might not endure if bearish forces gain strength.

As attention turns to XRP’s performance, Ripple CEO Brad Garlinghouse has addressed mounting speculation regarding the company’s potential initial public offering (IPO). In a recent video posted on X, Garlinghouse clarified that Ripple does not intend to file for an IPO in 2025. He highlighted that the company remains financially stable and is concentrating on product development and business expansion, thus not actively seeking external funding.

Although Ripple is not pursuing an IPO this year, Garlinghouse left the possibility open for the future. He stated that the company is assessing whether going public would offer long-term benefits, but such a move is not currently a priority. Furthermore, Garlinghouse suggested that the evolving regulatory environment—particularly under new leadership at the SEC—might impact Ripple’s strategic decisions moving forward.

His remarks coincide with reports indicating that several crypto firms, including Kraken and Circle, are preparing for IPOs. For now, Ripple seems content to remain private until circumstances improve.

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