Peter Brandt Hints at Bullish XRP Pattern With a Coffee Cup Chart

What Would Confirm a Cup-and-Handle Pattern?

A cup-and-handle formation generally combines a rounded price recovery with a smaller pullback near the upper part of that recovery. The rounded portion resembles a cup, while the shorter consolidation forms the handle. In Brandt’s image, the coffee cup suggests that interpretation, while the horizontal line identifies a price level above the recent bars.

The distinction between a developing formation and a completed pattern depends on what happens when price challenges its upper boundary. Fidelity describes cup-and-handle confirmation as a breakout above both sides of the cup. Its technical analysis presentation also notes that prices often return toward the breakout area afterward, a movement known as a throwback.

Different chart intervals can reveal different structures, even when they track the same asset over overlapping periods of trading. Candlesticks, resistance levels, and time frames help describe those distinctions. The daily view in the Oct. 5 image emphasizes recent price behavior, whereas a monthly chart compresses years of trading into a longer-term perspective.

Brandt’s Earlier $XRP Forecast Adds a Longer View

The latest image follows Brandt’s separate long-term $XRP projection of $5.40 on Sept. 21. That monthly chart accompanied his statement: “This is my long-term chart of $XRP. It implies an eventual advance to $5.40.” $XRP traded near $1.54 then, making the projected level approximately 251% higher than the contemporaneous price.