Peter Brandt Sees XRP Potential at $2.16 but Warns of Supply Hurdles

Veteran trader Peter Brandt has identified a potential upside target for XRP, mapping a move toward $2.16 based on an inverse head-and-shoulders pattern. The setup originates from a daily chart structure where Brandt measures the height of the formation and projects that distance above the neckline. With XRP currently trading around $1.51, this target implies a roughly 43% upside.

The pattern, however, is not yet complete. Brandt notes that the right shoulder of the inverse head-and-shoulders is poorly formed and abbreviated, leaving room for further price action before the structure is fully developed. He emphasizes that chart objectives are not fixed destinations, as one pattern can evolve into another as price develops.

Despite the bullish setup, Brandt warns that XRP faces significant overhead supply, which could slow its advance. His weekly chart highlights the first notable barrier around the mid-$1.60s, followed by a larger supply area extending toward the previous highs above $3. This supply could create resistance, making the path toward $2.16 less straightforward than the measured-move calculation suggests.

In comparison, Brandt finds the chart structures of Monero (XMR) and Solana (SOL) more constructive. XMR is pressing through long-term resistance near $560.88, with much of the old supply already absorbed. SOL, meanwhile, maintains a broader cup-and-handle structure, sitting around $121 with resistance near $250. Among the assets he compared, Brandt said XMR is his favorite by far.