Veteran trader Peter Brandt has placed a new price target on XRP at $2.16, based on technical analysis of the token's weekly chart. At the time of his analysis, XRP was trading around $1.51.
Brandt identified a cup and handle pattern on XRP's larger timeframe, which he suggested could represent the right shoulder of an inverse head and shoulders formation. Using a measured move projection, he calculated the pattern's height could propel XRP to his $2.16 target, roughly 43% above the price shown on his chart.
Brandt cautioned that technical targets are not guaranteed. "Targets or objectives are not sacred," he wrote. "Charts often fail to deliver what we first identify and morph into something else." He noted that the right shoulder of the pattern is "poorly formed and abbreviated," suggesting it may require additional time to develop.
Overhead Supply Obstacle
A primary concern for Brandt is the volume of overhead supply above current price levels. Many XRP holders acquired the token during the 2025 rally when it traded between approximately $2 and $3.70. These holders may choose to sell as the price climbs back toward their purchase levels.
"Note in XRP there is a TON of overhead supply to work through," Brandt stated. "This is a negative for XRP."
Technical Focus Over Fundamentals
Brandt emphasized that he focuses exclusively on price action rather than fundamental analysis. "I could care less about the fundamentals of XRP or any other coin than BTC," he wrote. "I trade price. Price is all that matters to me."
Comparative Chart Analysis
Brandt compared XRP's technical setup with several other tokens analyzed over the same period:
- Monero (XMR): His preferred chart, with overhead supply largely absorbed and clear upside potential ahead
- Solana (SOL): Features a cup and handle pattern that Brandt described as being "on a different level than XRP"
- Ether (ETH): Shows heavy congestion but lacks the significant overhead supply present in XRP
- Stellar (XLM): Exhibits overhead supply, though not at the scale of XRP's
"Of these, my favorite by far is XMR," Brandt concluded. "I do not know the fundamental narrative. I do not need to know."
