Peter Brandt Sees XRP Rally Toward $5.40 as Whales Accumulate

Veteran trader Peter Brandt has turned constructive on XRP, arguing that investors do not need unwavering loyalty to the cryptocurrency to recognize its bullish technical setup.

Brandt said an objective look at XRP charts provides sufficient reason to consider the token, marking a notable shift in tone after previous clashes with the XRP community. His long-term monthly chart highlights a potential XRP price target near $5.40, based on a resistance-and-support structure that has developed over roughly a decade.

However, Brandt clarified that publishing a price projection does not necessarily mean he is actively trading XRP.

XRP was trading near $1.52 after recovering from recent lows. Other technical analysts have also identified bullish signals. Ali Charts pointed to a possible inverse head-and-shoulders formation, with the neckline around $1.55. A confirmed breakout from the pattern could open the door to approximately $2, representing upside of about 30% from current levels.

Large XRP holders are also adding to their positions. Whales accumulated roughly 470 million XRP, valued at approximately $724 million, within five days. The buying increased their combined holdings and could indicate growing confidence among major investors.

Institutional demand has remained another supportive factor. U.S. spot XRP ETFs have recorded 11 consecutive weeks of net inflows, bringing cumulative inflows close to $1.79 billion. Recent weekly inflows totaled roughly $75 million, remaining resilient even as Bitcoin and Ethereum investment products experienced mixed demand.

Derivatives data also point to improving market sentiment. XRP futures open interest is moving back toward previous highs, while positive funding rates suggest traders are increasingly positioned for further gains.

Despite the bullish XRP price outlook, significant resistance remains. XRP must decisively clear the $1.55-$1.60 region before traders can confirm a stronger breakout. October has also historically been a weaker month for XRP.

Still, the combination of improving technical patterns, whale accumulation and persistent XRP ETF inflows has strengthened expectations for the token heading into the fourth quarter.