Peter Brandt Flags Key XRP Breakout at $1.6572

Veteran trader Peter Brandt has put XRP back in the spotlight after sharing a cryptic chart that appears to hint at a potential cup-and-handle pattern. His chart highlights $1.6572 as a key resistance level that could determine XRP’s next major price move.

XRP is trading near $1.52 after staging a strong recovery from its August lows around $1.00. The cryptocurrency surged toward $1.70 during its August breakout before entering a broader correction that dragged the price to approximately $1.27 in mid-September.

Since then, XRP has recovered toward the $1.60-$1.65 region before consolidating near $1.50. This sideways movement may represent the "handle" portion of a potential cup-and-handle formation. However, the bullish technical pattern remains unconfirmed while XRP stays below Brandt’s $1.6572 breakout level.

Technical indicators offer some support for the bullish XRP outlook. The token remains above several important moving averages, with short-term support near $1.45 and longer-term support clustered around $1.35-$1.40. XRP has also broken above a descending trend line that restricted its price throughout much of September.

Momentum remains relatively constructive. The Relative Strength Index is sitting in neutral-to-bullish territory rather than at the heavily overbought levels recorded during XRP’s August rally. That could give buyers additional room if bullish momentum strengthens.

Still, the $1.65-$1.66 resistance zone remains the main obstacle. XRP has repeatedly produced upper wicks around this area, suggesting sellers continue to defend the level. A convincing daily close above $1.6572 could strengthen Brandt’s cup-and-handle scenario and bring the August high near $1.70 back into focus. A sustained breakout could eventually increase attention on the psychological $2.00 level.

On the downside, XRP has initial support around $1.48-$1.50, followed by roughly $1.45. A break below these levels could weaken the developing bullish structure and expose the $1.35-$1.40 support region.

For now, Brandt’s chart appears to highlight a potential XRP breakout setup rather than a confirmed bullish signal, with $1.6572 remaining the critical price to watch.