XRP just picked up support from someone who usually stays away from the crypto crowd. Veteran trader Peter Brandt, one of the most respected chart analysts in financial markets, recently explained why he’s still watching XRP.
Brandt said it is not necessary to be a “certified cult member” to own XRP because the charts alone have always been enough reason to place a bet. Coming from a trader who has spent decades analyzing market patterns across commodities, currencies, and financial markets, that comment caught plenty of attention.
What you'll learn 👉
XRP Still Has a Strong Long-Term Setup
We had a look at the XRP chart, and the setup Peter Brandt is talking about becomes pretty clear. For years, the XRP price moved inside a massive symmetrical triangle that stretched from 2018 through 2024.
Every rally topped out lower than the last, and every selloff found support at higher levels, squeezing the price into a tighter and tighter range over time. That long consolidation ended when XRP broke above the triangle in late 2024. The breakout pushed it to about $2.80 before profit-taking kicked in and sent the token into a correction.
Today, XRP is trading near $1.52 after gaining 7.89% on the latest weekly candle. Even though it’s still below the $2.80 peak, many technical traders see the bigger structure as constructive because the breakout itself remains intact. That’s exactly why Brandt said the chart alone is enough reason to consider XRP.
Read Also: Here’s Where Ripple’s XRP Price Could Go This Week
Why $2.80 Remains the Most Important Level for XRP
The level traders are watching closely is $2.80. XRP looks like it might be forming an inverse head-and-shoulders pattern. The left shoulder developed near $0.90, the head formed near $0.50, and the right shoulder came in around $0.90. The neckline of the whole pattern sits near $2.80.
If the XRP price can push above that neckline, the pattern’s measured target points toward approximately $5.10. That projection comes from taking the height of the pattern, about $2.30, and adding it to the breakout point. The key thing is, none of this is confirmed yet. XRP is still trading below the neckline. Bulls need a clean break above $2.80 before traders start treating the pattern as active.
Why Peter Brandt Is Watching XRP
Brandt’s comment was not about community support, partnerships, or market narratives. His focus was entirely on the chart. XRP has already pulled off one of the biggest technical moves on the chart: a breakout from a six-year symmetrical triangle.
The next step is seeing whether the XRP price can reclaim $2.80 and confirm the inverse head-and-shoulders pattern. If that happens, traders will likely start eyeing the $5 area as the next major target.
Until then, XRP sits in the middle of a long-term bullish setup that still needs one more breakout before the biggest projections come into play. For now, Peter Brandt’s message is straightforward. You do not need to buy into every XRP narrative to be interested in the asset. For him, the chart is reason enough.
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