Brandt Favors Monero While Mapping Modest XRP Target

On October 5 Peter Brandt singled out Monero as his clear favorite among altcoins he reviewed. The veteran trader argued that excess supply in XMR has already been absorbed, leaving the coin with an unobstructed path higher.

XRP faces the opposite situation: a large volume of coins bought at higher prices could flood the market on any recovery and cap upside, Brandt noted. He described this overhead supply as a major negative factor.

Still, the daily chart of XRP shows a potential cup-and-handle pattern that points to a measured move target of $2.16. Brandt stressed that such projections are never guaranteed and the pattern itself could evolve.

The $2.16 level is separate from his earlier long-term call of $5.40 published on September 21. His analysis relies solely on price action, not on project fundamentals.

Based on information from cryptonews.net