Peter Brandt Points To Developing XRP Cup And Handle Setup

What happened

Peter Brandt shared a new XRP daily chart that points to a developing cup-and-handle setup, according to The Crypto Basic. The report said the Sept. 23 high at $1.6572 is the key breakout level. On a Binance chart dated Oct. 5, XRP traded around $1.5230, slightly above a displayed SMA at $1.4978. The asset was up around 1.9% over the past 24 hours, with market data keeping it near $1.52.

The cup formed after XRP rallied toward the mid-$1.60 region in August. Price then fell into the $1.25-$1.30 area in mid-September. Buyers pushed XRP back to $1.6572 on Sept. 23. Since that high, the correction has held mostly within $1.45-$1.55, the consolidation that could act as the handle.

Why it matters

The setup needs a close above the rim near $1.6572 before it can move beyond a developing pattern. From $1.5230, clearing that level requires an advance of about 8.8%, per The Crypto Basic. A basic measured move, using an approximate $1.26 cup low and the $1.6572 rim, would point toward roughly $2.05. The publication said that figure is its own calculation from the visible structure, not a target Brandt published with the chart.

On the downside, losing the handle area around $1.45 would weaken the short-term setup. U.Today said confirmation remains absent while XRP trades below $1.6572. It described Brandt's cup reference as less like a confirmed signal and more like a setup awaiting a trigger at $1.65.

What the data shows

• The chart's ADX reading was 43.80. The Crypto Basic said this shows strong directional movement, though ADX alone does not show direction.
• U.Today put XRP around $1.52 after a recovery from August lows near $1.00. It cited an August breakout toward $1.70 and a broad correction back toward $1.27 in mid-September.
• The rebound went toward $1.60, $1.65, followed by sideways trade around $1.50. RSI was described as neutral-to-bullish rather than heavily overbought.
• U.Today cited short-term support around $1.45, longer-term averages around $1.35, $1.40, and initial support at $1.48, $1.50. It said losing those levels could expose the $1.35, $1.40 region.
• The report called $1.65, $1.66 the decisive barrier. A convincing daily breakout above $1.6572 could put the August high around $1.70 back in focus, and the $2.00 level would become increasingly relevant, U.Today said.

Background

• In September, The Crypto Basic reported that Brandt's long-term chart implied an eventual $5.40 XRP price, without a stated deadline.
• The latest post continues a run of XRP-focused updates from Brandt. The Crypto Basic reported that he has acknowledged XRP works cheaply for transactions while questioning whether transactional utility alone increases its value.
• U.Today noted that an earlier descending trend line had been broken, removing a technical barrier that constrained XRP in September.

What is still unclear

• The formation is developing, not confirmed. U.Today said confirmation remains absent while XRP trades below $1.6572.
• The measured move toward roughly $2.05 comes from The Crypto Basic's own calculation, not from Brandt.
• U.Today described the cup reference as a setup awaiting its trigger, not a confirmed signal.

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