Peter Brandt has raised concerns about XRP's price stability, asking traders how low it might fall into support. His chart suggests that XRP's late-2024 range expansion is still unproven as a reliable support level.
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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
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.
Peter Brandt expressed concerns about XRP's price stability and asked traders how deep they think it could fall into support.
Brandt's chart indicates that XRP's late-2024 range expansion may not hold as a reliable support level, which could impact trading strategies.
The XRP weekly chart shared by Brandt shows a market that is still trying to establish support rather than indicating a clear momentum breakout.
XRP traders, referred to as 'Ripplettes' by Brandt, are being prompted to consider potential price drops and support levels based on his analysis.
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For XRP bulls, the first answer depends on the $1.55 area. If price can reclaim and hold that level on the weekly timeframe, the chart would look more like a deep retest of a breakout zone than a full structural failure.
A reclaim would suggest that buyers are still defending the former range boundary and that the market has not fully surrendered the post-breakout advance. Without that reclaim, however, the lower support levels in Brandt’s poll become more relevant because price would remain below the shelf that previously supported the consolidation.
The poll results showed how split traders were on that risk. “Bottom is in” had 27% of the vote, “Support at .72xx” also had 27%, and “Slightly above zero” drew another 27%. The more moderate option, “Support at .93xx,” had 19% and was marked as the selected choice in the screenshot. At press time, the poll had received 364 votes with nearly 12 hours remaining while XRP traded at $1.3941.
XRP hovers around the 200-week EMA, 1-month chart | Source: XRPUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com