Peter Brandt maps a potential XRP move from an inverse head-and-shoulders setup but warns that heavy overhead supply could slow the advance.
Veteran trader Peter Brandt has refined his latest XRP setup, putting a potential move toward $2.16 on the table while warning that the asset still faces a large wall of supply above current prices. His view is less about a fixed target and more about how the chart could evolve from here.
Brandt says the $2.16 level comes from a daily inverse head-and-shoulders structure. Using closing prices, he measures the height of the formation and projects that distance above the neckline.
With XRP around $1.51 on his latest weekly chart, a move to $2.16 would require roughly 43% upside.
$2.16 Depends on an Unfinished Right Shoulder
The setup is not complete in Brandt’s view.
He describes the right shoulder as poorly formed and abbreviated, leaving room for more price action before the pattern is fully developed. More right-shoulder formation would make the structure cleaner, although he stressed that it is not strictly required.
That qualification matters because Brandt does not treat chart objectives as fixed destinations. His point is that one pattern can evolve into another as price develops.
The Crypto Basic covered this progression a day earlier when Brandt highlighted a bullish cup-and-handle setup on XRP’s daily chart. In that structure, the $1.6572 high from Sept. 23 acted as the main breakout level, with XRP needing to clear that area to strengthen the pattern.
His latest update builds on that view. Brandt now says the cup-and-handle could also form part of a larger inverse head-and-shoulders structure, which produces the $2.16 measured target. However, he continues to flag the heavy supply sitting above XRP as the main obstacle to a cleaner advance.
Overhead Supply Is Brandt’s Main XRP Concern
The bigger issue is what sits above price.
Brandt says XRP has a “TON of overhead supply” to work through. In chart terms, this refers to price zones where large amounts of earlier trading took place. Holders who bought at higher levels may sell when XRP returns to those areas, creating resistance even if the broader setup improves.
His weekly chart shows the first notable barrier around the mid-$1.60s, followed by a much larger supply area extending toward the previous highs above $3.
That makes the path toward $2.16 less straightforward than the measured-move calculation alone suggests.
Brandt Prefers XMR and SOL Structures
Brandt compared XRP with several other assets and came away more constructive on Monero and Solana.
For XMR, his weekly chart shows price near $560.88, pressing through the long-term resistance area. Brandt’s view is that the market has already absorbed much of the old supply there, leaving fewer historical holders waiting overhead.
SOL also drew praise. Brandt said its cup-and-handle is on a different level from XRP’s. His weekly SOL chart shows price around $121, with a broad multi-year cup sitting beneath resistance near the $250 area.
Among the charts he compared, Brandt said XMR is his favorite by far.
His latest XRP take therefore remains constructive but conditional. He sees a route toward $2.16, yet the immediate challenge is still the same one highlighted in his recent charts: XRP first has to clear the supply sitting above the current range.
The Crypto Basic has recently covered Brandt’s growing technical interest in XRP. He previously said the chart alone was enough reason for him to consider a trade, despite remaining skeptical of XRP’s fundamentals.
In another long-term setup, he mapped a potential move toward $5.40.