Peter Brandt Considers XRP Bet Amid Chart Interest

Financial news writer Peter Brandt recently shared his thoughts on XRP in a post. The veteran trader found XRP's chart interesting enough to consider a bet, but clarified that he did not confirm any purchase or open position.

The XRP chart showed two long periods of price compression followed by strong increases, as well as a more recent formation after the token's last pullback. Brandt noted that charts alone can be sufficient reason for him to make a bet, and that an investor can be interested in XRP without embracing its community's strongest beliefs.

However, Brandt emphasized that his interest was based on price evolution, not Ripple's fundamentals. He also clarified that the 5.40 dollar target he previously mentioned came from a separate analysis published a few days earlier and should not be interpreted as a new forecast.

XRP still needs to break the resistance zone between 1.55 and 1.66 dollars before it can move towards its next target of around 2 dollars, according to Brandt's analysis.