Veteran trader Peter Brandt has told crypto investors that owning XRP does not mean joining a fan club. In a post on X over the weekend, Brandt said charts alone have long been enough for him
Veteran trader Peter Brandt has told crypto investors that owning XRP does not mean joining a fan club.
In a post on X over the weekend, Brandt said charts alone have long been enough for him to place a bet, and he drew a line between being open-minded and being blindly devoted.
Brandt's message was aimed at the loyalty that surrounds the token. An interested owner, he argued, need not be "a certified cult member."
The comment follows a monthly chart Brandt shared in the post. Brandt had earlier shared a chart pointing to a possible long-term level of $5.40, with XRP trading near $1.49 at the time.
He set no date for the move. Brandt also warned that posting a chart is not the same as taking a trade.
Related: Analyst says XRP could be ready for a big move
“The charts alone have always been enough reason for us to make a bet There is a difference between being open minded and having a hole in the dead,” he wrote in the post.
The weekly chart shows XRP testing a possible inverse head-and-shoulders neckline around $1.50 to $1.55. The pattern is a technical setup, not a confirmed breakout.
Brandt has not always been a cheerleader. He has previously questioned XRP's fundamental valuation.
Reaction to his post was split between support and skepticism. Responding to his point, crypto analyst Ali Charts identified a potential inverse head-and-shoulders setup on the chart, with the key neckline sitting near $1.55.
Traders will now watch whether XRP can hold above the neckline.
