Brandt Maps 251% Path for XRP to $5.40 in Long-Term Chart

Veteran chartist Peter Brandt has shared a long-term XRP chart that projects an eventual move to $5.40, about 251% above where the token currently trades. This projection is based on monthly candles of XRP/USDT and goes back several years, tracing a falling resistance line from the 2018 high meeting a rising support line from the 2020 lows. The chart shows that XRP broke through the top of this formation earlier in its run, taking it above $3 before correcting.

Currently, the token is trading around $1.49, which is less than its 18-month moving average of $1.88. Brandt's projection implies that XRP will first gain back a lot of the ground it lost. Depending on the reference price, the gap to $5.40 is about 251% from $1.54, or ~260% from $1.50.

It's worth noting that Brandt explicitly stated that his chart is not a trade recommendation and that he only projects an eventual advance to $5.40. He emphasized the importance of proof when making trading decisions and cautioned against relying solely on his charts.