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Peter Brandt’s latest $XRP daily chart points to a developing cup-and-handle setup, with the Sept. 23 high at $1.6572 emerging as the key breakout level.
Veteran trader Peter Brandt has shared another $XRP chart, this time drawing attention to what appears to be a developing cup-and-handle structure on the daily timeframe. The setup puts the recent $1.6572 high back in focus as the level buyers would need to clear.
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The Binance chart, dated Oct. 5, shows $XRP around $1.5230, with price sitting slightly above the displayed SMA at $1.4978. $XRP is also up around 1.9% over the past 24 hours, with current market data keeping the asset near $1.52.
The larger part of the setup began with $XRP’s August rally toward the mid-$1.60 region. Price then rolled over, eventually dropping into the $1.25-$1.30 area in mid-September.
From there, buyers drove $XRP back toward the previous high. The rebound peaked at $1.6572 on Sept. 23, effectively bringing price back toward the area where the earlier decline began.
That round trip creates the “cup” portion of the structure.
Since the Sept. 23 high, $XRP has pulled back without returning anywhere near the cup low. The correction has instead held mostly in the $1.45-$1.55 region, creating the smaller consolidation that could serve as the handle.
Brandt reinforces the visual with a coffee mug placed directly beneath the latest price structure.
For the setup to move beyond a developing pattern, $XRP still needs to clear the rim around $1.6572.
From $1.5230, that requires an advance of about 8.8%.
If $XRP closes decisively above that area, a basic cup-and-handle measured move—using an approximate $1.26 cup low and the $1.6572 rim—would point toward roughly $2.05. This is our calculation from the visible structure, not a target Brandt published with the chart.
On the downside, losing the recent handle area around $1.45 would weaken the short-term setup. A much deeper return toward the September low would damage the cup-and-handle interpretation further.
The chart’s ADX reading of 43.80 also shows strong directional movement, although ADX by itself does not indicate whether that direction is bullish or bearish.
The latest post continues a run of $XRP-focused updates from Brandt.
In September, The Crypto Basic reported that his long-term chart implied an eventual $5.40 $XRP price, without a stated deadline.
Days later, Brandt shared another $XRP setup and said investors did not need to become devoted $XRP supporters to take interest in the asset, arguing that the charts alone were enough reason for him to consider a bet.
That technical interest has come despite his skepticism about $XRP’s fundamentals. Brandt previously acknowledged that $XRP works cheaply for transactions while questioning whether transactional utility alone necessarily increases its value.
For the latest setup, the next test is simpler: $XRP needs to move through $1.6572 before the cup-and-handle can gain stronger confirmation.
