- Peter Brandt’s chart pattern projects XRP upside toward a $2.16 price target.
- Overhead supply from previous buyers could create strong resistance during recovery.
- A breakout above $1.60 may strengthen momentum and attract new buyers.
Ripple’s XRP is back to the spotlight after veteran trader Peter Brandt shared a bullish price target. His latest analysis points to a potential move toward $2.16, implying sizeable upside from current levels near $1.50. While traders welcome the forecast, Brandt remains cautious. Strong resistance sits above the market, and many investors may look to exit during any recovery. That combination creates an interesting setup for XRP during the weeks ahead.
Peter Brandt Sees a Path to $2.16
Peter Brandt based his outlook on technical analysis rather than project fundamentals. According to his chart, XRP may be forming a cup-and-handle pattern. That structure could also become part of a larger inverse head-and-shoulders formation. Using a measured move from the pattern, Brandt arrived at a $2.16 target. Such a move would represent roughly 43% upside from $1.51. However, he emphasized that chart targets are not guarantees.
Market conditions can change quickly, and patterns often evolve before completion. Brandt also noted weaknesses in the current setup. The potential right shoulder appears short and underdeveloped. That observation suggests more consolidation may occur before a stronger breakout attempt. Despite those concerns, XRP entered October with positive momentum. The token recently recorded a strong third quarter.
Traders continue watching resistance levels near $1.54 and $1.70. A move above those areas could strengthen bullish sentiment. Another factor remains difficult to ignore. Large numbers of investors bought XRP during the 2025 rally. Many entered positions between $2 and $3.70. Some may decide to sell once prices revisit those levels. Selling pressure from those holders could slow any recovery.
Supply Pressure Remains the Key Challenge
Recent trading activity shows growing market interest. Volume has increased while XRP remains near important support. Ripple also released one billion XRP from escrow on October 1. Even so, Brandt continues focusing on price action. He often evaluates chart structure before considering broader narratives. That approach has shaped many of his crypto market views.
Brandt recently compared XRP with several major cryptocurrencies. His analysis highlighted differences in supply conditions and chart quality. Among those assets, Monero earned the strongest praise. He believes Monero has already absorbed much of the supply overhead. Solana also received favorable comments due to a strong cup-and-handle structure.
Ether appeared less attractive because of heavy price congestion. XRP remains a candidate for further gains, but hurdles remain. Buyers must absorb supply sitting above current levels. A breakout above $1.60 could attract fresh momentum. If demand stays strong and resistance gives way, Brandt’s $2.16 target may come into clearer view.