Veteran trader Peter Brandt has shared a weekly chart that asks XRP holders how low the token might drop. The post on X, from his @PeterLBrandt account, directly targets the XRP crowd. “Attention all Ripplettes,” he wrote. “How deep into support do you Ripplettes think price could go? $XRP. See chart.”
The chart shows $XRP/USDT on Binance on a weekly timeframe. Brandt highlights a broad structure starting with a long base through 2023 and most of 2024. That is followed by a sharp vertical breakout in late 2024, then a wide consolidation and a pullback. The key level appears to be near $1.55. In technical terms, this is a former range-reclaim zone.
Breaking Below Key Support
That $1.55 region is uncomfortable for bulls because XRP has already slipped below it. When a market loses a prior range, technicians often look for the next areas where buyers once absorbed supply. Brandt’s chart maps those zones with lower horizontal lines. One is near the recent consolidation lows, another around deeper post-breakout support, and then the broader ascending base that defined XRP’s pre-breakout structure.
Brandt’s poll attached to the post made those support levels explicit. He offered four choices: “Bottom is in,” “Support at .93xx,” “Support at .72xx,” and “Slightly above zero.” The $0.93 area comes from a descending trendline that started at the 2021 high. The $0.72 level is deeper. On the weekly chart, it aligns with the ascending trendline of XRP’s old 2023-2024 base and the rising long-term support line that preceded the late-2024 move. So it is not a random number. It represents a possible full retest of the prior breakout structure.
A Stressed Breakout Pattern
The broader pattern Brandt appears to highlight is a failed or stressed range breakout after a large advance. XRP broke out of a long accumulation-style range, rallied aggressively above $3, then formed a wide top-like consolidation with multiple failed attempts to extend higher. For bulls, the first answer depends on the $1.55 area. If price can reclaim and hold that level on the weekly timeframe, the chart would look more like a deep retest of a breakout zone rather than a full structural failure.
A reclaim would suggest buyers are still defending the former range boundary. Without that, the lower support levels in Brandt’s poll become more relevant because price remains below the shelf that previously supported the consolidation.
Split Poll Results
The poll results showed how divided traders were. “Bottom is in” had 27% of the vote, “Support at .72xx” also had 27%, and “Slightly above zero” drew another 27%. The more moderate option, “Support at .93xx,” had 19% and was marked as the selected choice in the screenshot. At press time, the poll had 364 votes with nearly 12 hours remaining while XRP traded at $1.3941.
