Veteran trader Peter Brandt has expressed chart-based interest in XRP, distinguishing between technical analysis and the conviction of some token advocates. In a September 26 post, Brandt stated that the charts alone provide sufficient reason to consider a position in the cryptocurrency.
Brandt, who entered commodity markets in 1976 and founded Factor Trading in 1980, has built his career on analyzing classical price charts that track recurring formations in historical price data. His latest XRP analysis highlights two long-term narrowing patterns spanning more than a decade of trading history, along with a smaller pattern following a recent decline.
On September 26, XRP traded near $1.52, reflecting a weekly gain of approximately 7.9%. This followed a climb above $1.60 on September 22 before the subsequent retreat.
Earlier Projection and Current Analysis
Brandt's current interest builds on an earlier September 21 chart analysis that indicated a possible advance to $5.40. At the time of that projection, XRP traded near $1.54, placing the target roughly 251% above that price. Brandt emphasized that his latest post reflects broader observations about why charts hold his interest rather than establishing a new price target or timeline.
The trader has clarified that longer and shorter chart views can emphasize different price movements, explaining how he can remain interested in broad patterns while noting nearer-term declines.
Position and Past Commentary
Brandt has previously discussed XRP favorably based on price patterns while maintaining distance from allegiance to the token. In November 2024, he highlighted what he called a "massive coil" pattern in XRP, an increasingly tight trading range, while stating at that time that he held no XRP position and had no plans to purchase it.
During the market movement around Brandt's September projection, data showed 1,917 transfers worth at least $100,000 and 3,647 new wallets as XRP climbed above $1.60 before retreating.
