Veteran trader Peter Brandt asserts that XRP investors do not require blind allegiance to justify their holdings, maintaining that technical charts alone offer sufficient reason to purchase the asset right now.
His remarks coincide with a convergence of bullish configurations, whale accumulation, and consistent ETF inflows that are inspiring renewed market optimism.
What Is Driving XRP’s Bullish Setup?
Market analyst Peter Brandt informed followers that holding XRP does not demand official cult membership, arguing instead that maintaining an open perspective toward technical charts is entirely adequate.
His statements provoked intense responses from a community with which he has previously locked horns, though his tone this time proved constructive rather than dismissive.
Brandt’s long-term monthly chart highlights a potential future climb toward $5.40, derived from a decade-long framework of support and resistance. He emphasized that sharing a forecast is not the same as maintaining an open trade position.
According to BeInCrypto figures, XRP exchanges hands around $1.52 following a recovery from recent troughs, while other analysts share this optimistic outlook. Ali Charts highlighted an inverse head-and-shoulders structure—a formation frequently indicating a potential trend reversal—with its neckline situated near $1.55.
A confirmed breakout could drive XRP toward $2, representing an increase of roughly 30%. Trader Dark Defender went a step further, declaring that a parabolic surge will happen soon.
Do Whales and ETF Flows Support the Rally?
On-chain metrics indicate that major investors are not waiting for confirmation. Over a five-day span, whales acquired approximately 470 million tokens valued at roughly $724 million, significantly boosting their combined holdings in a move typically viewed as an indicator of strong confidence.
Concurrently, U.S. spot XRP exchange-traded funds have recorded eleven consecutive weeks of net inflows. Cumulative figures now approach $1.79 billion, supported by recent weekly additions of about $75 million, which persisted even as Bitcoin and Ethereum investment products experienced mixed or negative sessions.
Momentum signals are strengthening, and futures open interest is trending back toward earlier peaks. Favorable funding rates indicate that traders favor further upward movement over a decline, although historical trends showing October as a weaker month for XRP have tempered some exuberance.
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Nevertheless, the technical configuration, accumulation by whales, and steady ETF demand create a promising outlook for the fourth quarter. Analysts caution that these factors do not guarantee a breakout, and resistance close to $1.60 must still be overcome.