Veteran market analyst Peter Brandt has highlighted technical charts as sufficient reason to hold XRP, arguing that positions need not rely on community sentiment alone.
Brandt's long-term monthly chart analysis points to potential upside near $5.40 based on decade-long resistance-and-support structures. XRP currently trades around $1.52, according to available data.
Technical Patterns Suggest Further Upside
Multiple analysts have identified bullish formations in XRP's chart. An inverse head-and-shoulders pattern has been flagged with a neckline near $1.55, a formation often associated with trend reversals. A confirmed breakout could push XRP toward $2, roughly 30% higher.
Momentum indicators are improving, and futures open interest is climbing back toward earlier highs. Positive funding rates suggest traders are positioning for upside rather than downside. Resistance near $1.60 remains a key level to monitor.
On-Chain Activity and Fund Flows
Large holders have accumulated approximately 470 million XRP tokens worth around $724 million over five days, suggesting confidence from institutional players.
U.S. spot XRP ETFs have recorded eleven consecutive weeks of net inflows, with cumulative totals near $1.79 billion. Recent weekly additions averaged around $75 million, maintaining momentum even as Bitcoin and Ethereum products saw mixed results.
However, October has historically been a weaker month for XRP, and analysts caution that no technical setup guarantees a breakout.
