Veteran trader Peter Brandt recently conducted a comprehensive weekly chart comparison of XRP, Monero (XMR), and Solana (SOL) using only classical price patterns and measured moves. According to reports from Crypto.news, Brandt's analysis sets aside fundamentals and relies solely on technical indicators, emphasizing that chart structures evolve and targets are not sacred across different assets. As reported by CoinDesk, Brandt believes in 'measured moves' but warns that targets are not sacred, noting that charts often start as one pattern and turn into another. Brandt shared a weekly XRP chart on X showing the token at about $1.51, identifying a cup-and-handle formation that typically signals a continuation pattern after a rounded base followed by a small pullback. In his latest analysis, he warned against treating the setup as a promise of higher prices, emphasizing that 'Excuse the rant I am about to unleash' before explaining why technical objectives should remain flexible.
For XRP, Brandt identified a cup-and-handle formation on daily charts, which typically signals a continuation pattern after a rounded base followed by a small pullback. As reported by CoinDesk, the measured move from this inverted head-and-shoulders pattern suggests an upside objective near $2.16 based on daily closes. However, Brandt warns that the pattern could evolve into the right shoulder of a bearish head-and-shoulders formation, creating uncertainty about the pattern's validity. The $2.16 objective represents a gain of about 43% from current levels, though Brandt emphasizes this remains a conditional target rather than a forecast due to structural concerns. Brandt described the right shoulder as poorly formed and abbreviated, which suggests it may need more time to develop before delivering the projected target. He also identified a possible relationship between XRP's shorter-term cup-and-handle formation and a larger head-and-shoulders structure, noting that the cup-and-handle could form part of the right shoulder on the broader chart. WalletInvestor's model projects a 51.6% gain over twelve months, reaching approximately $2.27, which aligns with Brandt's target range despite different methodologies and timeframes.
XRP faces significant technical headwinds according to Brandt's analysis, with 'a ton of overhead supply' representing layers of prior trading creating resistance. According to CoinDesk, this congestion creates a clear technical negative for the asset, requiring price absorption before any sustained advance can begin. Brandt's biggest worry remains supply concerns, noting that overhead supply refers to many holders who bought at higher prices during the 2025 rally when XRP traded between about $2 and $3.70, and may sell as the price climbs back toward what they paid. The $1.66 level serves as the nearest marker for XRP, reflecting the current supply pressure and the area where many previous buyers may choose to exit their positions. Brandt emphasized that 'Note in XRP there is a TON of overhead supply to work through', warning that XRP could encounter selling from holders as it recovers toward earlier trading levels.
XRP's price declined 1.42% over the past 24 hours amid broader market weakness, with retail sentiment shifting to 'bearish' from the 'neutral' zone over the past day. As reported by CoinDesk, XRP was among the top trending tickers on Stocktwits, though chatter around it remained at 'low' levels. Brandt emphasizes he cares only about price action, with little interest in coin fundamentals other than Bitcoin (BTC). He also noted that XRP's performance was compared unfavorably to other coins over the same period, reinforcing his preference for technical analysis over fundamental narratives. Brandt wrote 'I trade price. Price is all that matters to me,' explaining that his trading decisions depend on price rather than the token's fundamental narrative.
Monero emerges as Brandt's clear favorite among the three assets, with XMR having largely absorbed its previous overhead supply and showing progressively higher highs with a cleaner path after earlier consolidations. As reported by CoinDesk, Brandt compared XRP with four other tokens over the same period, stating 'Of these, my favorite by far is XMR.' He emphasized that 'I do not know the fundamental narrative. I do not need to know,' reinforcing his focus on technical price action over fundamental analysis. Brandt wrote 'All the supply has been absorbed. It is clear sailing ahead' of Monero, arguing that the token could encounter fewer obstacles above the market compared to XRP's substantial overhead supply. Solana earns similarly favorable treatment due to its cup-and-handle pattern on a larger scale than XRP's, with a broad rounded base under well-defined horizontal resistance. The technical analysis comes as Evernorth prepares to debut on Nasdaq on October 8 under the ticker XRPN, with the company expecting to hold about 473 million XRP at closing. Brandt previously identified an eventual $5.40 target for XRP in a September 21 post, while Standard Chartered's earlier $2.80 year-end forecast offers a separate benchmark for the token.
