Peter Brandt Flags $1.6572 as Key XRP Breakout Level
XRP is approaching a key resistance level at $1.6572 identified by veteran trader Peter Brandt, with the cryptocurrency consolidating near $1.50 after recovering from its September decline. Brandt’s latest chart highlights the level as a potential breakout threshold and depicts a possible cup-and-handle formation.
XRP Consolidates Below Brandt’s $1.6572 Resistance
XRP was trading around $1.52 after recovering from August lows near $1.00. According to Brandt’s chart, The initial advance carried the cryptocurrency toward $1.70 before sellers triggered a correction that took the price to approximately $1.27 in the middle of September.
Buyers later pushed XRP back toward the $1.60–$1.65 area, bringing the market closer to the resistance marked on Brandt’s chart. The price has since settled around $1.50, forming a consolidation range that could represent the handle portion of the developing pattern.
Several upper wicks around $1.65–$1.66 indicate repeated selling pressure near the resistance zone. Brandt’s chart identifies $1.6572 as the level that XRP needs to overcome for the potential formation to gain further significance.
A sustained daily move above $1.6572 would strengthen the cup-and-handle interpretation and put the August high near $1.70 back in focus. If buying momentum continues beyond that peak, the psychological $2.00 level could become another reference point for traders.
XRP Moving Averages Provide Nearby Support
XRP’s daily chart remains above its major moving averages, with shorter-term support positioned around $1.45. A separate group of longer-term moving averages is concentrated between $1.35 and $1.40, below the current consolidation area.
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| Source: Brandt’s chart |
XRP’s relative strength index is in neutral-to-bullish territory and remains below the heavily overbought readings seen during the August advance. Momentum is therefore positioned differently from the earlier move that took XRP from its lows toward $1.70.
$1.48–$1.50 Support Becomes Key Downside Test
Immediate support is located around $1.48–$1.50, where buyers are attempting to preserve the consolidation beneath Brandt’s resistance marker. A move below this range could bring the $1.45 area into focus, alongside the shorter-term moving average support.
A deeper decline through those levels could weaken the developing handle and expose the longer-term moving average cluster around $1.35–$1.40. For now, Brandt’s $1.6572 level remains the central breakout threshold, while $1.48–$1.50 represents the nearest support zone for XRP.
Writer: Marcus RenfieldCrypto Market Analyst & Onchain WriterMarcus Renfield covers cryptocurrency markets with a focus on onchain data, Bitcoin price action, and emerging market narratives. His writing examines how capital flows, network activity, and broader market structure influence short- and medium-term trends.He aims to provide clear, data-informed analysis for readers seeking a deeper understanding of crypto market dynamics.