Peter Brandt’s $2.16 XRP target comes with a warning: heavy overhead supply could stand in the way of a rally.
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Key Takeaways
Peter Brandt warned that XRP faces substantial overhead supply, potentially limiting its recovery.
His latest analysis outlines a $2.16 measured move while stressing that chart patterns can change.
Standard Chartered’s earlier $2.80 year-end forecast offers a separate benchmark, while Brandt previously identified an eventual $5.40 target.
Peter Brandt has delivered a stark warning to XRP bulls arguing that the token faces substantial resistance even as its chart offers a potential recovery setup.
The veteran trader’s October 6 rant outlined a $2.16 price objective, following his previous $5.40 call, but emphasized that targets can fail as patterns evolve.
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In recent X posts, Brandt identified a cup-and-handle formation in XRP but warned against treating the setup as a promise of higher prices.
“Excuse the rant I am about to unleash,” he wrote, before explaining why technical objectives should remain flexible.
His central concern was the resistance XRP could encounter during a recovery.
“Note in XRP there is a TON of overhead supply to work through,” Brandt wrote.
“This is a negative for XRP.”
Source: X (@PeterLBrandt)
In chart analysis, overhead supply refers to potential selling above the current price, often associated with areas where investors previously bought.
He also asked XRP supporters not to take his assessment personally, explaining that his trading decisions depend on price rather than the token’s fundamental narrative.
“I trade price. Price is all that matters to me,” he wrote.
Brandt Outlines a $2.16 Measured Move
Brandt identified a possible relationship between XRP’s shorter-term cup-and-handle formation and a larger head-and-shoulders structure.
He said the cup-and-handle could form part of the right shoulder on the broader chart.
Brandt’s upward move to $2.16 came from projecting the height of an inverted head-and-shoulders pattern using daily closing prices.
Source: X (@PeterLBrandt)
A measured move calculates a potential objective from a pattern’s dimensions. Brandt stressed that the calculation does not guarantee the market will reach it.
“Targets or objectives are not sacred,” he wrote.
He described the right shoulder as poorly formed and abbreviated, suggesting it could need further development, although he said that was not essential.
Earlier $5.40 Call Shows Brandt’s Longer View
Brandt’s caution follows earlier posts showing an interest in XRP’s potential upside.
In a Sept. 26 post, he argued that investors could consider XRP on the strength of its charts without becoming a “certified cult member.”
His accompanying weekly chart placed the latest formation within the last decade of price history.
A separate Sept. 21 post on X also saw Brandt identify an eventual $5.40 target.
Standard Chartered also previously put XRP’s end-2026 target at $2.80, according to the bank’s forecasts.
Brandt Picks Monero Over XRP
Brandt’s warning became sharper when he compared XRP’s chart with Monero’s chart, arguing that the two tokens face very different obstacles.
While XRP has substantial overhead supply to absorb, he said Monero had already worked through that resistance.
“All the supply has been absorbed. It is clear sailing ahead,” Brandt wrote of XMR.
Brandt said his favorite was Monero by far.
In Brandt’s view, the token could encounter selling from holders as it recovers toward earlier trading levels, while Monero’s structure presents fewer obstacles above the market.
He also stressed that his preference had nothing to do with understanding Monero’s fundamentals.
“I do not know the fundamental narrative. I do not need to know,” he wrote.
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The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
