XRP to $2.16? Legendary Trader Peter Brandt Says 'Yes but...'

Veteran trader Peter Brandt sees potential for XRP (CRYPTO: XRP) to reach $2.16, following a week of consolidation around $1.50. He identified a cup-and-handle formation but cautioned that XRP's right shoulder appears poorly formed, indicating a need for further consolidation. Additionally, Brandt noted significant overhead supply as a challenge for XRP, contrasting it with other cryptocurrencies like Monero and Solana. A potential catalyst for demand is the upcoming Nasdaq trading of Ripple-backed Evernorth on October 8, which plans to purchase XRP for its institutional treasury.