Prominent trader Peter Brandt keeps taking aim at the Ripple-linked $XRP cryptocurrency, and his comments keep attracting a lot of discussion from the community.
In one of his most recent posts, Brandt pointed to the seemingly cultish nature of the $XRP investment community.
That said, he noted that it is not necessary to be a "certified member" of such a perceived cult to be an interested owner of the token.
"It is not necessary to be a certified cult member to be an interested owner of a crypto $XRP," Brandt wrote in a recent social media post.
The veteran chartist primarily pays attention to the technical setup of a certain token, which applies to $XRP as well.
"The charts alone have always been enough reason for us to make a bet," Brandt said.
He then took another swipe at cryptocurrency buyers who tend to display a very high level of commitment to a certain token. "There is a difference between being open-minded and having a hole in the head," he said.
Notably, Brandt accompanied his comments with a long-term weekly $XRP chart that appears to show a potentially bullish technical structure.
Multi-year consolidation
Brandt's chart shows that $XRP has been in the middle of consolidation that followed its 2017 rally. Then, there was a subsequent breakout that took place in late 2024.
It is not necessary to be a certified cult member to be an interested owner of a crypto $XRP
— The Factor Report (@PeterLBrandt) September 27, 2026
The charts alone have always been enough reason for us to make a bet
There is a difference between being open minded and having a hole in the dead pic.twitter.com/YAnP0GGBBV
More recently, Brandt appears to be tracking a possible inverse head-and-shoulders formation. The chart provided by Brandt shows potential shoulders and a lower head.
The Ripple-affiliated token is now approaching a horizontal neckline around the $1.50-$1.60 area.
An inverse head-and-shoulders pattern is viewed by technical analysts as a potential bullish reversal formation. For this, however, the price needs to break above its so-called "neckline."
As reported by U.Today, Brandt recently predicted that the $XRP price could surge all the way to $5.4.
Facing pushback from the community
Brandt recently faced intense criticism from members of the $XRP community for saying some harsh words about the leading cryptocurrency.
The veteran trader recently described $XRP as a "fool coin". He acknowledged that the cryptocurrency could be used efficiently for transactions.
"$XRP can be effectively used for transactional purposes, cheaply," Brandt said.
However, he questioned whether transaction utility alone necessarily translates into investment value while also pointing to $XRP's huge supply.
However, some members of the community pointed to the fact that $XRP’s use cases have expanded substantially beyond its original positioning. Others also noted that one cannot increase $XRP's supply. "You need to convince a node operator to use a different rule set to gain social consensus. That's fundamentally what makes decentralized systems so attractive," XRPL validator Vet said in a recent social media post.