Brandt Spots Cup-and-Handle Pattern in XRP Chart

Veteran trader Peter Brandt has highlighted a developing cup-and-handle pattern on the daily chart for XRP. The setup places emphasis on the $1.6572 high from September 23 as a critical breakout level. Brandt’s chart, shared on October 5, shows XRP trading around $1.5230, slightly above its $1.4978 simple moving average (SMA), with an ADX reading of 43.80 indicating strong directional momentum.

The cup portion of the pattern began with XRP’s August rally toward $1.65, followed by a decline into the $1.25-$1.30 range in mid-September. The subsequent rebound peaked at $1.6572 on September 23, forming the cup. Since then, XRP has consolidated between $1.45 and $1.55, shaping the handle. Brandt visually reinforced this with an image of a coffee mug aligned with the price structure.

For the cup-and-handle setup to gain confirmation, XRP must surpass the $1.6572 level, an 8.8% advance from its current position. A successful breakout could target approximately $2.05 based on the measured move calculation. Conversely, a drop below the $1.45 handle area would weaken the short-term outlook, while a deeper decline toward September’s lows would undermine the pattern entirely.

This update follows Brandt’s recent focus on XRP, including a long-term chart suggesting a potential $5.40 price and another setup emphasizing the asset’s chart-driven appeal. Despite his skepticism about XRP’s fundamental utility, Brandt has expressed technical interest in the asset.