A Coffee Cup Puts $XRP’s Gain in Focus
$XRP investors have a possible bullish formation to assess after veteran trader Peter Brandt shared a daily price chart on X on Oct. 5. The founder of Factor Trading, a proprietary trading and market research firm, placed a coffee cup beneath the token’s recent trading history, suggesting a potential cup-and-handle interpretation of its recovery and subsequent pullback.
The image shows a sharp August advance, a retreat through mid-September, and a recovery toward a horizontal line labeled $1.6572. Recent bars cluster below that line, with the displayed price at $1.5230. Moving from that reading to the marked level would require an increase of approximately 8.8%, placing the potential resistance test above the latest consolidation.
Brandt’s visual shorthand fits his long-standing use of classical chart patterns to evaluate price movements across financial markets. He entered commodity trading in 1976 and founded Factor Trading in 1980. His approach examines recurring structures in historical prices rather than treating enthusiasm for a cryptocurrency as sufficient evidence of an investment opportunity.
