XRP Price Eyes $2.16 as Ripple Expands Brevan Howard Deal

XRP price traded near $1.50 on Oct. 6 as veteran trader Peter Brandt identified a possible measured move toward $2.16. The setup combines a developing cup-and-handle pattern with a larger potential inverse head-and-shoulders structure.

Brandt also warned that XRP faces substantial overhead supply above current levels. His technical outlook arrived as Ripple expanded its institutional relationship with Brevan Howard through Ripple Prime.

XRP Price Inverse Head-and-Shoulders Points to $2.16

XRP price was trading near $1.50, as Brandt shared his latest technical assessment. The $2.16 target is based on the height of the developing inverse head-and-shoulders pattern, projected upward from the neckline. A move from $1.51 to $2.16 would represent an increase of about 43%.

Brandt said the structure remains incomplete because the right shoulder is poorly formed and abbreviated. XRP crypto could therefore spend more time developing the right side of the pattern before attempting a larger move. However, Brandt said further development of the shoulder is not required for the setup to remain valid.

The trader previously identified a cup-and-handle formation on XRP’s daily chart. Resistance near $1.6572, which marked the Sept. 23 high, remains an important level within that structure. A move above this area would take XRP beyond its recent trading range and closer to the projected neckline area.

Brandt explained that technical patterns can change as price action develops. The cup-and-handle formation could become part of the right shoulder of the larger inverse head-and-shoulders setup.

XRP Crypto Faces Heavy Overhead Supply

XRP still faces a large amount of overhead supply above its current price. Brandt identified this as a negative factor for the cryptocurrency as it attempts to move toward higher resistance levels. Previous trading activity above the current range has created several areas where selling pressure could emerge.

The first resistance area sits around the mid-$1.60 range. Beyond that level, XRP faces a broader supply zone extending toward previous highs above $3. Holders who previously bought XRP at higher prices could sell as the token returns to those levels, adding resistance during a recovery.

Brandt compared XRP’s structure with Monero, Solana, Ethereum and Stellar. Monero was trading around $560.88 and testing a long-term resistance area, with Brandt noting that much of its prior overhead supply had already been absorbed. He named XMR as his preferred chart among the cryptocurrencies included in the comparison.

Solana also has a broad cup-and-handle formation, according to Brandt. SOL was trading around $121, while its multi-year structure placed a major resistance area near $250. Ethereum remained inside a large congestion zone, while Stellar also had overhead supply, although Brandt said it was smaller than the supply facing XRP.

XRP News: Ripple Expands Brevan Howard Partnership

Meanwhile, Ripple has expanded its relationship with Brevan Howard through Ripple Prime. Under the agreement, Ripple Prime will provide multi-asset prime brokerage, clearing and financing services to Brevan Howard funds. The platform covers traditional and digital markets, including access to crypto assets such as XRP and Ripple USD, or RLUSD.

The partnership follows an earlier investment involving Brevan Howard affiliates. Those affiliates participated in Ripple’s $500 million funding round last year, which valued the company at $40 billion. Ripple later reached a $50 billion valuation following a $750 million share buyback program earlier this year.

Ripple Prime has also expanded its range of institutional trading services. In August, the business added U.S. stock trading through its Delta One operation, allowing clients to execute total return swaps on U.S. equities.

This article is for informational purposes only and does not constitute financial or investment advice. Technical patterns, analyst targets and market conditions may change as price action develops.