XRP rose 3.80% to $1.53 over the past 24 hours, outperforming the broader cryptocurrency market. Following this move, veteran trader Peter Brandt published a long-term monthly chart on social media indicating a potential price target of $5.40.
Long-Term Price Target
Brandt's chart analysis shows XRP potentially breaking above a major resistance trendline that has limited its larger price moves since the 2018 all-time high. The chart also indicates XRP holding above long-term exponential moving averages, which Brandt characterized as supporting a bullish technical setup.
From the current price near $1.52, a move to $5.40 would represent approximately 260% upside. Brandt did not specify a time frame for this potential advance. He emphasized that his chart presentation should not be construed as a trade recommendation, stating that sharing technical analysis does not constitute a trading call.
Near-Term Resistance Levels
Crypto analyst Ali Martinez identified $1.60 as a significant near-term resistance zone. According to Martinez's analysis using the UTXO Realized Price Distribution chart, relatively little resistance exists before $1.60, where approximately 2.5 billion XRP previously traded hands. This area represents a potential profit-taking level for traders.
Large holders have accumulated approximately 1.54 billion XRP, valued at roughly $2.2 billion, over a 96-hour period, according to Martinez.
Key Price Levels to Monitor
For XRP to sustain momentum, the $1.50 level remains critical support. If the price holds above this threshold, potential targets include a retest of the recent high near $1.57 and $1.61 based on Fibonacci analysis. A break below $1.50 could push the token toward $1.47.
The upcoming XRPL Batch upgrade, with activation expected after September 29, represents another event for market participants to monitor.
