Peter Brandt, a veteran of commodity trading, predicts that the price of XRP could eventually reach $5.40. "This is my long-term chart for $XRP," Brandt wrote on X. "It suggests a move towards $5.40 ultimately. According to him, this implies an increase of approximately 260% from the current level of $1.50, where the cryptocurrency is currently trading. On September 21, XRP rose nearly 9%, although some of that gain was lost. Brandt emphasized that his chart should not be interpreted as a trading recommendation. His analysis is based on monthly candles of XRP/USDT, which gives it a significantly longer-term perspective than those charts used for short-term forecasts.
The chart shows that the descending resistance line, starting from the peak in 2018, has long intersected with the ascending support line, which began around the lows of 2020. XRP eventually broke through the upper boundary of this structure during its last significant rise. After the price rose above $3, XRP faced a prolonged correction. Currently, the cryptocurrency is trading around $1.49 and is consolidating below its 18-month moving average, which is close to $1.88. Thus, Brandt's forecast of $5.40 is clearly not based on an immediate breakout from current levels. XRP must first overcome a significant correction that followed the previous rally and regain several important technical levels.
Expectations for XRP volatility have also increased. According to Coinbase Markets, options on XRP were priced at a one-standard deviation of 8.9% until September 27, which is the highest expected change among major cryptocurrencies. In comparison, Solana received 8.0%, Ethereum – 6.9%, and Bitcoin – 5.0%. The expected movement of XRP is also about 1.79 times its historical median seven-day change. At the same time, market positions are becoming increasingly positive, and some market observers note that the cumulative delta volume has turned positive as the price rises above $1.50.
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