Veteran trader Peter Brandt has published a weekly chart analysis of XRP that identifies a potential inverse head-and-shoulders pattern forming near the $1.50-$1.55 price region. The analysis places XRP's current technical structure within over a decade of price history, highlighting two previous multi-year breakout formations.
Brandt emphasized that chart patterns alone can provide sufficient technical justification for considering a trade, independent of fundamental concerns. He stated that investors do not need to be "certified cult members" to trade XRP based on its technical setup, distinguishing between maintaining an open mind toward an asset and following it without proper judgment.
Current Chart Setup
According to Brandt's analysis, XRP is currently testing a neckline around $1.50-$1.55 after trading as high as $1.6569 during the latest weekly candle. The token closed near $1.5214 and is trading above its weekly simple moving average near $1.3244. The chart's ADX reading stands at 28.74, a level commonly associated with meaningful directional trend strength.
The immediate formation on the chart shows three recent lows labeled as shoulder-head-shoulder, with a horizontal neckline at the $1.50-$1.55 level. Under classical technical analysis, a confirmed inverse head-and-shoulders pattern requires a sustained break above the neckline. Using the distance between the head and neckline as a measured move suggests a potential area around $2.05-$2.10, though Brandt's chart does not designate this as a specific target.
Historical Breakouts
Brandt's chart also maps two significant breakout structures in XRP's history. Between roughly 2014 and 2017, XRP formed a tightening structure with descending resistance and rising support, eventually breaking out during the 2017 market expansion. A second, larger structure formed after XRP's 2018 peak, with converging trendlines eventually broken during the late-2024 rally. That breakout led XRP into a broad range with an upper boundary around $3.30-$3.40, after which the token retraced to form the current shoulder-head-shoulder structure.
Technical Considerations and Previous Skepticism
Brandt's latest technical interest comes after he expressed skepticism about XRP's fundamental valuation. In a recent interview, he acknowledged that XRP "can be effectively used for transactional purposes cheaply" but argued that transactional utility alone does not automatically drive asset appreciation. He distinguished XRP's role from Bitcoin's store-of-value thesis and Ethereum's ability to support broader applications.
Brandt's current analysis draws a distinction between fundamental conviction and technical trading opportunity. He previously mapped an eventual XRP advance toward $5.40, though that projection included no specific deadline and did not confirm he had opened a position based on it.
For the near-term, the technical resistance at $1.50-$1.55 remains the first meaningful hurdle. A sustained move above this neckline would further confirm the inverse head-and-shoulders pattern, while failure to hold would leave XRP in its broader consolidation range.
