Peter Brandt has identified Monero as his preferred choice among several altcoins based on technical chart analysis. In comparing Monero, XRP, Solana, Ethereum, and Stellar, Brandt noted that Monero's previous overhead supply had already been absorbed, providing a clearer technical path forward.
XRP, by contrast, faces substantial overhead supply that could create resistance during any recovery attempt. Overhead supply refers to potential selling from investors who purchased at higher prices and may exit near their original entry levels as the market recovers toward those prices.
XRP Technical Analysis and Price Targets
Brandt derived a daily chart objective of $2.16 for XRP from a potential inverse head and shoulders pattern measured using daily closing prices. The pattern features three troughs, with the central trough deeper than the surrounding two. The projected pattern height establishes the measured objective.
Brandt noted that an earlier cup and handle formation could become the right shoulder of this larger reversal structure, though he described the shoulder as short and poorly formed. He cautioned that while further pattern development appears likely, chart patterns can evolve into different configurations as trading continues.
The $2.16 target differs from Brandt's earlier $5.40 projection shared in September. That assessment came from analysis of a monthly chart and addresses a separate, longer-term structure. Brandt did not describe the lower figure as a required intermediate step toward the higher objective.
Comparative Technical Assessments
Brandt offered more favorable technical assessments for other altcoins in his comparison. Solana received recognition for its cup and handle formation, which Brandt considered stronger than XRP's developing pattern.
Ethereum showed considerable price congestion, with trading concentrated within a crowded range. Stellar also faced overhead supply pressures, though Brandt assessed its burden as smaller than XRP's.
Brandt's analysis focused on price behavior and chart structure rather than fundamental factors. He noted that chart objectives and targets are not guaranteed outcomes, as market conditions can change direction at any point.
