XRP price has jumped 3.80% to $1.53 in the past 24 hours, beating the overall crypto market. Following this jump, veteran trader Peter Brandt shared a long-term chart pointing to a possible 260% to $5.40 price target.
But before that target comes into play, the token faces a much closer test around $1.60.
Legendary trader Peter Brandt has shared a long-term monthly chart of XRP on X, pointing to a potential price target of $5.40.
Brandt’s chart shows XRP breaking above a major resistance trendline that has capped its larger price moves since the 2018 all-time high. The chart also shows XRP holding above long-term exponential moving averages, supporting the bullish setup.
From the current price near $1.52, the $5.40 target represents around 260% upside. However, Brandt did not provide a time frame for the move.
Brandt also warned traders not to treat his chart as a trade recommendation. Also, he made it clear that sharing the chart does not mean he is recommending a trade.
He wrote, “A claim of a ‘call’ or simple presentation of a chart is NOT a trade.”
While Brandt is focused on the long-term outlook, crypto chart analyst Ali Martinez has pointed to a major short-term price zone.
Crypto analyst Ali Martinez said the UTXO Realized Price Distribution chart shows relatively little resistance before $1.60, where around 2.5 billion XRP previously changed hands. He identified this area as the next major level where some traders could take profits.
At the same time, whale activity is adding more attention to the rally. Martinez further said that large holders accumulated about 1.54 billion XRP worth roughly $2.2 billion in 96 hours.
For now, XRP, holding above $1.50, remains important. If the price stays above this level, it could retest the recent high near $1.57, with the next target at $1.61 based on Fibonacci levels.
However, a break below $1.50 could push XRP toward $1.47.
The upcoming XRPL “Batch” upgrade is another event to watch, with activation expected after September 29.
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