Peter Brandt Puts XRP Bulls on Alert With New Support Chart

Veteran trader Peter Brandt has shared a weekly chart and asked traders how deep they think XRP could fall into support. The post matters because Brandt’s chart frames XRP not as a clean momentum breakout, but as a market still trying to prove that its late-2024 range expansion can hold as support.

Brandt, posting from @PeterLBrandt account on X, addressed the XRP crowd directly. “Attention all Ripplettes,” he wrote. “How deep into support do you Ripplettes think price could go? XRP. See chart.”

XRP weekly chart | Source: X @PeterLBrandt

What This Means For XRP

The chart attached to the post showed XRP/USDT on Binance on a weekly timeframe. Brandt marked out a broad structure that begins with XRP’s long base through 2023 and much of 2024, then the sharp vertical breakout in late 2024, followed by a wide consolidation and eventual pullback. The key level near $1.55 appears to be central to the setup. In technical terms, it’s a former range-reclaim.

That $1.55 region also explains why Brandt’s chart is uncomfortable for bulls. XRP has already slipped below. Once a market loses a prior range, technicians often look for the next areas where buyers previously absorbed supply. Brandt’s lower horizontal lines seem to map those zones: one near the recent consolidation lows, another around the deeper post-breakout support, and then the broader ascending base that defined XRP’s pre-breakout structure.

The poll attached to the post made that support map explicit. Brandt offered four choices: “Bottom is in,” “Support at .93xx,” “Support at .72xx,” and “Slightly above zero.”

The $0.93 area appears to come from a descending trendline which originates at the 2021 high. The $0.72 area is deeper. On the weekly chart, it aligns with the ascending trendline of XRP’s old 2023–2024 base and the rising long-term support line that preceded the late-2024 move. In other words, it is not just a random number. It represents a possible full retest of the prior breakout structure.

The broader pattern Brandt appears to be highlighting is a failed or stressed range breakout after a large advance. XRP broke out of a long accumulation-style range, rallied aggressively above $3, then formed a wide top-like consolidation with multiple failed attempts to extend higher.