Peter Brandt Gives XRP the Chartist's Blessing — "Justifiable Bet" Stalls Below $1.50

Veteran trader Peter Brandt said current XRP/USD chart structure justifies a long position, framing the setup as a "bet worth taking" in commentary shared this week. Brandt, known for decades of classical technical analysis, pointed to the pattern formation rather than naming a precise upside target.

XRP trades near $1.48, down from recent highs, with the token consolidating after a broader market pullback that also dragged $BTC and $ETH lower. Liquidity data from the past 24 hours showed roughly $330 million in leveraged positions liquidated across the crypto complex, according to separate coverage, contributing to the muted price action.

Brandt's endorsement comes as on-chain movements add supply-side pressure. A Bitget hacker address moved 54 million XRP in the days prior, routing proceeds through multiple exchanges in a pattern tracked by blockchain investigators. The transfers coincided with renewed scrutiny of exchange market-making practices in South Korea following the JPYC stablecoin's price surge.

Macro headwinds have also weighed on sentiment. Reports cited oil price volatility and shifting Federal Reserve rate expectations as drivers of the sell-off, factors Brandt did not directly address in his chart commentary. The CLARITY Act 2.0 failed a recent Senate vote, opening the door to a rewrite of the market-structure bill that could shape how $XRP and other tokens are classified.

Brandt has not disclosed a position size or entry level, and his remarks stop short of a formal price forecast. XRP last held support above $1.45 intraday, with traders watching the $1.50 round number for a retest.