Key Takeaways
- Monero is Peter Brandt’s favorite among the altcoin charts compared.
- Brandt sees further XRP right shoulder development as likely, not required.
- His $2.16 daily objective differs from his earlier $5.40 projection.
Monero Gets Brandt’s Strongest Endorsement
Monero drew veteran trader Peter Brandt’s strongest endorsement among the altcoin charts he compared, while XRP’s potential advance came with significant reservations. The founder of Factor Trading, which trades its own capital and provides market research, outlined his preference for monero alongside XRP’s $2.16 objective in an X post on Oct. 5.
XMR, the privacy-focused cryptocurrency, stood out as Brandt considered all of its overhead supply already absorbed. He contrasted that position with XRP’s burden, describing monero as having “clear sailing ahead.” The veteran trader summarized his preference:
“Of these, my favorite by far is XMR.”
XRP presented a less favorable picture: potential sellers above the current market price could impede its advance, Brandt detailed. Investors who purchased higher may sell during a recovery, creating resistance where supply can restrain further gains. He stressed:
“Note in XRP there is a TON of overhead supply to work through. This is a negative for XRP.”
His comparison used the same time period across the displayed charts. He viewed the cup-and-handle in Solana’s SOL more favorably than XRP’s, describing it as being on a different level. Ethereum’s cryptocurrency ETH showed substantial congestion, or trading within a crowded range, without the same overhead supply he identified in XRP. Stellar’s XLM token also faced that obstacle, but to a smaller degree.
XRP’s Bullish Setup Comes With Reservations
Brandt nevertheless identified a potentially bullish cup-and-handle pattern in XRP, a rounded recovery followed by a smaller pullback. His explanation builds on a daily XRP chart featuring a coffee cup shared Oct. 5. He suggested that this smaller configuration might be the right shoulder of a larger inverted head-and-shoulders setup.
That potential reversal consists of three troughs, with the middle one deeper than the others. Projecting its height upward produces his $2.16 objective using daily closing prices rather than intraday extremes. He described this calculation as a measured move, an objective derived from the size of a chart pattern.
The right shoulder remains poorly formed and abbreviated, making further development likely, though not required in his assessment. His warning extends beyond that unfinished structure: charts can fail to produce the initially anticipated move, and one identified pattern can turn into another as trading unfolds. He affirmed: “Targets or objectives are not sacred.”
How $2.16 Differs From Brandt’s Earlier $5.40 Projection
His $2.16 objective follows a separate monthly XRP projection pointing toward $5.40 shared Sept. 21. That earlier figure represented an eventual advance implied by his long-term chart. Brandt did not present $2.16 as a replacement for $5.40 or as a midpoint toward that level.
His approach centers on trading behavior rather than cryptocurrency fundamentals, with bitcoin as his exception. In a Sept. 26 comment, he presented XRP charts as sufficient grounds for considering a bet.
That distinction also shaped his message to XRP supporters, whom he asked not to take his criticism as an offense. He emphasized that his assessment rests on price alone. Even for monero, his preferred alternative, he indicated that he did not know its fundamental narrative and did not need it for his analysis.
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