Peter Brandt considers the XRP chart interesting enough to consider a bet on the token. The trading veteran, however, does not confirm any purchases and does not renew his old target of $5.40 in his latest publication.
In brief
- Peter Brandt considers the XRP chart interesting enough to consider a bet.
- However, the trader does not confirm any purchases or open positions.
- Its old target of $5.40 comes from a separate analysis published a few days earlier.
- The XRP chart shows several phases of compression followed by sharp rises.
- In the short term, XRP still needs to break through the resistance zone between $1.55 and $1.66.
The XRP chart is enough to pique his interest
Peter Brandt shared on September 26 a weekly chart tracing more than ten years of evolution of XRP. This reveals two long periods of price compression, followed by sharp increases, as well as a more recent formation that appeared after the token’s last decline.
The trader separates this technical reading from the attachment shown by certain holders. “The graphics alone have always been reason enough for us to take a gamble”did he declared. He therefore believes that an investor can be interested in XRP without adhering to the most assertive beliefs of his community.
Its publication nevertheless brings several important nuances:
- Brandt does not confirm purchasing XRP;
- His chart contains no new upside schedule;
- The $5.40 level comes from an earlier analysis;
- His interest is based on price action, not Ripple’s fundamentals.
The term “bet” should therefore not be interpreted as an announcement of an open position. Brandt regularly distinguishes a public chart analysis from an actually executed trade.
$5.40 Target Is Not a New Forecast
On September 21, Peter Brandt published another long-term chart. This suggested a possible progression of XRP towards $5.40. The token was then trading around $1.54, which represented a potential increase of around 251%.
The trader had not provided any date for reaching this level. He also had specified that the distribution of a chart did not constitute a trading operation. According to him, anyone claiming to have carried out a transaction must provide proof going beyond a simple publication on X.
Its new intervention does not take up either the level of 5.40 dollars or a numerical projection. It only confirms that the historical structure of XRP remains of interest. Presenting this message as a new prediction at $5.40 would therefore amount to mixing two separate publications.
From the $1.54 price observed during the first analysis, the threshold considered would have placed XRP above its previous record of $3.65. Such progression would, however, require the breaking of several intermediate resistances.
Two long squeezes preceded sharp rises
Brandt’s weekly chart covers most of Ripple’s crypto story. He highlights two phases during which the highs fell while the lows gradually rose. This contraction reduces the range of movement until a sharp exit sets the market in a new direction.
A comparable structure had preceded the surge in XRP in 2017. Another compression had formed before the acceleration observed from the end of 2024. Brandt then qualified the configuration as “massive coil”an immense spring ready to relax.
He nevertheless clarified, in November 2024, that he did not hold any long positions and did not plan to open any. This caveat illustrates the limitations of current XRP analysis: a favorable formation can attract attention without automatically triggering a transaction.
The September 26 chart also appears to show a shorter pattern after the recent correction. This could correspond to a reverse shoulder-head-shoulder, but Brandt does not explicitly name it in his message.
XRP still needs to overcome decisive resistance
XRP was trading around $1.48 on September 28, down about 3.9% on the session. The token had reached $1.66 earlier in the week before losing some of its progress.
The area between $1.55 and $1.66 is now the main obstacle in the short term. A confirmed breakout would open the way towards $2, a level approximately corresponding to the target of the small formation visible on the weekly chart. Conversely, a lasting return below $1.45 would weaken this scenario.
The $5.40 target has a much longer horizon. It depends on a complete exit from the structure built for several years, and not on a simple weekly rebound. Peter Brandt’s message therefore remains favorable to XRP, but it constitutes neither a confirmation of purchase nor a guarantee of an increase.
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