Veteran trader Peter Brandt asserts that XRP investors do not need blind allegiance to justify their holdings, emphasizing that technical charts by themselves offer ample reason to purchase the asset at this time.
His remarks come as bullish patterns, large-scale whale accumulation, and consistent ETF inflows intersect to spark renewed market optimism.
What Is Driving XRP’s Bullish Setup?
Market analyst Peter Brandt informed his followers that holding XRP does not demand official cult membership. Instead, he maintained that keeping an open mind toward technical charts is sufficient.
His post sparked immediate responses from a community with whom he has previously locked horns. On this occasion, however, his tone was constructive rather than dismissive.
Brandt’s long-term monthly chart highlights a potential target near $5.40, drawing on a decade-long framework of support and resistance levels. He underscored the distinction between publishing a forecast and maintaining an active open position.
XRP is currently valued at roughly $1.52, according to figures from BeInCrypto, following a rebound from recent lows. Other analysts share this optimistic outlook. Ali Charts pointed out an inverse head-and-shoulders formation—a setup frequently indicating a trend reversal—with a neckline positioned close to $1.55.
A confirmed breakout could drive XRP toward the $2 mark, representing an increase of about 30%. Meanwhile, trader Dark Defender went a step further, asserting that a parabolic surge is soon to be expected.
Do Whales and ETF Flows Support the Rally?
On-chain metrics indicate that major investors are not holding out for further confirmation. Over a five-day span, whales acquired approximately 470 million tokens valued at roughly $724 million. This buying spree noticeably boosted their combined holdings, a behavior widely interpreted as a sign of strong confidence.
At the same time, U.S. spot XRP exchange-traded funds have recorded eleven consecutive weeks of net inflows. Total cumulative figures are approaching $1.79 billion, fueled by recent weekly additions of around $75 million. These inflows remained consistent even during sessions when Bitcoin and Ethereum products experienced mixed or negative results.
Momentum indicators are showing improvement, and futures open interest is drifting back toward previous highs. Favorable funding rates indicate that traders are anticipating further upward movement rather than downside risk. Nevertheless, October has historically tended to be a softer month for XRP, which dampens some of the prevailing enthusiasm.
Subscribe to our YouTube channel to watch leaders and journalists provide expert insights.
Even so, the technical framework, whale accumulation, and steady ETF demand create a promising backdrop for the fourth quarter. None of these factors guarantees a confirmed breakout, and market analysts warn that resistance near the $1.60 mark must still be overcome.
Frequently Asked Questions
What did Peter Brandt say about XRP holders?
Peter Brandt stated that XRP owners do not need blind loyalty or certified cult membership to justify their position, arguing instead that technical charts alone provide enough reason to buy the token.
What price targets are analysts predicting for XRP?
Brandt’s long-term monthly chart points to an eventual upside near $5.40. Other analysts note that a confirmed breakout above the $1.55 neckline could push XRP toward $2, while some traders anticipate a parabolic move.
How are whales and ETFs performing regarding XRP?
Whales recently added roughly 470 million tokens worth about $724 million over five days, while U.S. spot XRP ETFs have posted eleven straight weeks of net inflows totaling nearly $1.79 billion.
What is XRP currently trading at?
XRP is currently trading around $1.52, according to BeInCrypto data, after recovering from recent lows.
