EN ▼
Favorites
My Favorites
View All
Market Cap Price 24h%

Disclaimer: Content does not constitute investment advice. Trading involves risks—please invest with caution!

Peter Brandt predicts XRP target price of $2.16, but warns of heavy selling pressure resistance

2026-10-06 18:31:32
Bookmark

Senior trader Peter Brandt pointed out: XRP may rebound to US$2.16, but beware of selling pressure above

Senior trader Peter Brandt pointed out the possibility of a potential rise in XRP to US$2.16 based on an emerging chart pattern, which means there is about 44% room for price gains. However, he also warned that the poorly constructed right shoulder shape of the XRP and the heavy upper supply plate could hinder the token's progress towards the $2.16 target.

Superimposed analysis of the cup-handle shape and the "right shoulder" structure

According to Brant's analysis, XRP presents an emerging Cup-and-Handle shape that, if successfully developed, will support the bullish target. Within a larger time frame, he also identified this morphology as a potential "right shoulder" in the inverted head-shoulder structure. His assessment connects the smaller cup handle setting to a broader pattern visible on the XRP daily closing chart.

Brandt calculated a target price of $2.16 by measuring the height of the larger form and projecting that distance upward from the pattern. He also expressed support for the "measured moves", the charting method behind his calculation of potential rising targets for XRP. In the quoted market snapshot, XRP is trading at approximately $1.50, and to reach $2.16, a yield of approximately 44% is needed. In terms of amount, if this pattern works, the token price will increase by approximately $0.66.

Still, Brant described the possible right shoulder as "poorly constructed" and "shortened", highlighting flaws in the emerging bullish structure. His comments left uncertainty: whether the right shoulder needed further development or whether the existing shape would prove adequate. As a result, traders 'assessments include both reservations about the pattern itself and the potential upside potential implied by their measurement heights. Technical forms may miss the expected target or evolve into a different structure, leaving the $2.16 target dependent on the final outcome of the setting.

Top supply orders become main obstacle

Brandt pointed out that heavy top supply orders are the main obstacle facing bulls and pointed to where the token is on its weekly chart. XRP remains well below the main peaks during the previous rally, leaving behind higher price levels that could attract selling activity during the recovery. Those holders who buy XRP at high prices may sell as the token price rises, creating resistance on its potential upward path. Although Brandt identified a chart pattern with bullish targets, he described this supply burden as a negative for XRP.

He also compared XRP with Monero, pointing out that XMR has absorbed a large number of topside supply orders. At the same time, he described Solana's cup handle shape as looking better than the emerging structures he identified on the XRP price chart. These comparisons accompany his analysis of XRP, juxtaposing the potential rebound of tokens with concerns about supply and the appearance of incomplete forms.

据相关数据显示,XRP交易价格约为1.50美元,市值约为946.5亿美元。在过去一个月里,该代币上涨了约5.5%,但仍低于布兰特评估中强调的反弹峰值。布兰特的2.16美元预测仍以形态发展为前提,不完美的右肩和上方供应盘使前景变得复杂。

Disclaimer:

All content published on this website, including hyperlinks, related applications, forums, blogs, and other media accounts, originates from third-party platforms and their users. CoinMarketInsight makes no representations or warranties of any kind regarding the website or its content. All blockchain-related data and materials are provided for informational and research purposes only and do not constitute financial, legal, or investment advice. Users and third parties are solely responsible for the content they publish. CoinMarketInsight shall not be liable for any losses arising from the use of this website. You should exercise caution and conduct your own independent research, review, analysis, and verification before making any decisions.

Read Full Article
More News
TOP

TOP