Veteran Trader Identifies Critical Resistance for XRP Recovery

Established trader Peter Brandt has highlighted $1.6572 as a key resistance level for XRP, which is currently consolidating near $1.50 after recovering from its earlier September decline. Brandt's technical analysis suggests a potential cup-and-handle formation, with the cryptocurrency needing to sustain above the identified resistance to target the $2.00 level. XRP's current positioning above major moving averages supports the possibility of an upside breakout if selling pressure is overcome at this critical price zone.

Peter Brandt's analysis identifies a potential cup-and-handle technical pattern forming in XRP's price action. The cryptocurrency declined from approximately $1.70 in late August to $1.27 by mid-September before recovering to its current $1.50 range. This recovery trajectory, combined with XRP trading above its major moving averages and breaking through a descending trend line, suggests structural improvement in the asset's near-term positioning.

The identified support and resistance levels create a defined trading framework for XRP investors. Immediate support sits between $1.48–$1.50, with secondary support at $1.45 and longer-term support clustered around $1.35–$1.40. The $1.6572 resistance level represents the key threshold that, if overcome, could signal momentum toward the $2.00 psychological level and the previous August peak near $1.70.