Peter Brandt Prefers Monero Solana and Ethereum Over XRP

Peter Brandt, a well-known analyst who recently called $XRP "dumb money," has shared his latest insights on the cryptocurrency market. In a new analysis, Brandt compared $XRP to Monero ($XMR), Solana ($SOL), and Ethereum ($ETH), expressing a clear preference for the latter three based on their technical charts.

Brandt noted that $XRP's current technical outlook suggests a potential move towards $2.16, representing a 43% increase from its current price of $1.50. He identified a cup and handle pattern on $XRP's chart, which could evolve into the right shoulder of an inverse head and shoulders structure. However, Brandt emphasized that this target is not certain, citing significant selling pressure and oversupply as major obstacles.

According to Brandt, the biggest challenge for $XRP is its oversupply, which creates resistance during uptrends as investors who bought at higher levels may sell when the price reaches those levels again. He also made it clear that he is not interested in $XRP's fundamental characteristics, focusing solely on price movements.

In comparing $XRP to $XMR, $SOL, and $ETH, Brandt found $XMR's chart particularly strong, noting that past supply has been largely absorbed with less resistance ahead. He also praised $SOL's cup-and-handle formation and $ETH's lower upsupply pressure despite its volatility. Among the assets compared, Brandt stated that $XMR was his absolute favorite, regardless of its fundamental narrative.